US Stock Market: Retail investor rush sends Wendy's stock soaring on heavy trading volume

Shares of US-listed fast-food chain Wendy's surged as much as 41.9% intraday before settling about 28.5% higher at $9, driven by a surge in retail investor buying that triggered multiple volatility halts. The stock, which has lost over 78% from its June 2021 record high, faces ~34% short interest as a percentage of free float, fueling speculation of a short squeeze. Trading volume reached roughly $790 million by mid-morning, about 11 times its one-year daily average, with retail investors purchasing a net $2.3 million worth of shares in the first half hour of the session.