Wendy's shares rose quickly after the fast-food chain named a new chief financial officer. The jump came just days after the stock reached its lowest point in a year. Many considered the move as a sign the business might turn things around. High volume also helped push the price up swiftly.
The shares finished almost at the peak of the day’s trading. A stock expert firm kept its view on the shares at ‘hold’ status. It also left its estimate of where the shares could move next at $8.00. Experts said the new finance boss could help enhance financial performance, which may have helped drive the latest surge.