Wendy's shares surged significantly after the fast-food chain named a new chief financial officer. The gain came just days after the stock fell to its lowest point in a year. Many considered the move as a sign the business might recover. Heavy activity also helped push the price up quickly.
The shares finished close to 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 improve profits, which may have helped drive the latest surge.