Wendy's (WEN) Shares Surge 27% After New CFO Announcement

Wendy's (WEN) shares surged by more than 42% at one point before closing up 27% on heavy trading volume after the appointment of Steven Cirulis as chief financial officer and chief strategy officer. The stock was briefly halted for volatility and reached a high of $8.89 during trading. Retail investor interest has significantly increased, with net buying on this day over 50 times higher than the 20-day average. Additionally, about 23% of Wendy's free float is currently sold short, making the stock susceptible to a potential short squeeze.