Paul Weaver/SOPA Images/LightRocket via Getty ImagesWendy's stock is surging on a report that activist Nelson Peltz is eyeing a takeover bid.The stock was briefly halted for volatility on Wednesday. The stock has been in the crosshairs of meme-stock traders earlier this year.The move: Wendy's stock jumped as much as 17% on Wednesday, helping shares eke out a year to date gain. The latest momentum has pushed the stock up about 2% in 2026. Nasdaq briefly halted trading for volatility early in the session. Why: Wendy's soared in June on speculation from retail traders that a short squeeze could be brewing, but Wednesday's surge is being driven by reported interested from institutional money. The Financial Times reported that activist investor Nelson Peltz is preparing a bid to acquire Wendy's and take the burger chain private. His firm, Trian Fund Management, was Wendy's top institutional shareholder as of March 31, with a 16% stake. Trian first hinted at plans to take over the company in February after describing Wendy's as undervalued, but according to the report, Peltz's bid is likely to be submitted within the coming weeks.What it means: Despite the strong retail speculation that sent shares surging a few months ago, and the latest surge on takeover buzz, Wendy's stock is still down 16% in the last 12 months. Its status as a favorite among retail meme-loving traders hasn't boosted it much since the initial surge this summer. Wall Street, meanwhile, has been focused on the company's plans to close hundreds of locations across the US in just the first half of 2026.With the stock down 65% over the past five years, the stock looks cheap from an activist's perspective, and a take-private deal would come at a time when fast and fast-casual chains are duking it out for a share of spending from a consumer that's increasingly value-minded.Data from Stocktwits shows that retail traders are bullish on Wendy's as it's rallied this summer, though the stock isn't among the most-mentioned across forums, suggesting the meme hype may have already faded. Read the original article on Business Insider
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