Wendy's shares rose quickly after the fast-food chain announced a new chief financial officer. The rise came just days after the stock hit its lowest point in a year. Many viewed the move as a sign the business might improve its position. 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 a ‘hold’ rating. 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.