Wendy's (WEN) shares plummeted 5.05% during intraday trading on Friday, continuing a period of significant volatility for the fast-food chain.
The sharp decline follows the company's release of soft 2026 financial guidance, which projected adjusted earnings per share significantly below analyst expectations. Management also reported double-digit declines in U.S. same-restaurant sales and shrinking margins at company-operated locations, leading to a repricing of the stock.
While activist investor Trian Fund Management had previously sparked a bounce by outlining potential strategic moves for the company, including a possible acquisition, the weak fundamental outlook prompted renewed selling pressure during Friday's session.