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Heavily Shorted Wendy's Stock Soars Almost 40% As Meme Traders Pounce (finance.yahoo.com)

posted 7 days ago by propertyofUniverse 7 days ago by propertyofUniverse +61 / -0

Heavily Shorted Wendy's Stock Soars Almost 40% As Meme Traders Pounce

Heavily shorted Wendy's stock is soaring after gaining traction on Reddit. The rally suggest a short squeeze is in action.

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– propertyofUniverse [S] 1 point 7 days ago +1 / -0

I wonder whether this is to soften pressure on other shorted stocks, because IMO it would have that effect as some paperhanded guys sell a little of their stonks to cash in on this WEN spike.

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– Spindrifter 2 points 6 days ago +2 / -0

I believe it's really just to gauge how much momentum is in the meme-trader community right now. Meme traders act on coordinated spontaneity and do it for ethicality and the greater good, but extra money can't hurt either. Community-driven infrastructure is going to play a very big role in this new world we are going into.

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