India, June 25 -- Wendy's stock jumped as much as 30% on Wednesday after retail investors started buying the fast-food company's shares. The rally was mainly driven by posts on Reddit's WallStreetBets forum, where users discussed reasons why Wendy's stock could move higher. In a viral WallStreetBets thread, investors pointed to Wendy's new management team as a possible reason for optimism, according to Reddit users.

Reddit users also highlighted the company's decision to close some underperforming stores as a positive step. Plans to expand the Wendy's brand in China were another reason investors became interested in the stock, according to Reddit discussions. Some investors also believe Wendy's could become a takeover target, as noted by...