Every so often, Wall Street Bets focus stock becomes a meme stock that members are enthusiastic about buying. The most famous and biggest meme stock surge is GameStop in 2021. Others have had much smaller advance, but still attracted buyers.
The latest meme stock is Wendy's (WEN), which is a well know fast food chain. Wendy's is the most famous running jock on Wall Street Bets, working there officially or unofficially (NSFW) due to losing bets in the stock market. However, this time the members are out to save Wendy's with a concerted effort to help the stock surge. Additional factors that may help the surge are: New management and about 35% short interest.
A number of WSB members are buying large amounts of WEN and gambling on a big win. Not me. I just consider this a lotto ticket, likely to lose but entertaining to buy some. I bought 10 shares of WEN last Thursday. It's more expensive than most scratch off tickets, but I can deduct the losses when I have a losing lotto stock pick.
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This is not financial, stock picking, nor stock investment advice. Please consult a professional advisor.
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