Wendy - Burgers got reddit's recipe đź’Ş
-Nothing changed overnight’ to make Wendy’s a better bet, trader says as stock sees Reddit interest
-Shares of the fast-food chain surged about 26% to records on Tuesday after a post in Reddit’s popular WallStreetBets forum pitched Wendy’s as “the perfect stock” for the group on account of its signature products and “effective” social media presence.
-It’s the latest so-called meme stock that has captured the group’s interest. The growing list includes GameStop, AMC and Bed Bath & Beyond.
-“I think the reason the Reddit crowd is pushing it up today is because the retail share float is pretty small in Wendy’s, but I can guarantee you nothing changed overnight to change the fundamental story,” Gradient Investments President Michael Binger told CNBC’s “Trading Nation” on Tuesday.
-Though the company has a “decent business model” and can take advantage of the economic reopening, its stock is trading at a notably high price-earnings multiple for just 3% sales growth, he said.
-Shares of the fast-food chain surged about 26% to records on Tuesday after a post in Reddit’s popular WallStreetBets forum pitched Wendy’s as “the perfect stock” for the group on account of its signature products and “effective” social media presence.
-It’s the latest so-called meme stock that has captured the group’s interest. The growing list includes GameStop, AMC and Bed Bath & Beyond.
-“I think the reason the Reddit crowd is pushing it up today is because the retail share float is pretty small in Wendy’s, but I can guarantee you nothing changed overnight to change the fundamental story,” Gradient Investments President Michael Binger told CNBC’s “Trading Nation” on Tuesday.
-Though the company has a “decent business model” and can take advantage of the economic reopening, its stock is trading at a notably high price-earnings multiple for just 3% sales growth, he said.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.