Jim Cramer - Mad Money
Wendy's Company
WEN-Q
COMMENT
Jun 14, 2021
A recent meme stock that got pushed early last week to nearly $30, then sold off over $5 quickly. The meme people helped made rich Wall Street shorters, the same people the memers claim to hate.
He fears that most fast food companies can't hold their gains because of inflation. Be careful with this as much as he likes Wendy's. They report Wednesday.
options Wendy's is seeing huge calls, from 20,000 last month to 40,000 today at just one strike on Nov. 20. The stock and calls are moving higher. He bought calls. He bought and will upside calls against them as it rallies.