u/foundmemory ·
Reddit — r/wallstreetbets
· June 26, 2026 at 17:30
· ⬆ 482 pts
· 💬 177 comments
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AI Summary
Summary
The author performed on-the-ground foot traffic analysis at two Wendy’s locations, counting drive-thru and walk-in customers, concluding both were fairly busy.
Thesis: Wendy’s will beat next earnings due to recent media attention (including Reddit hype) and a turnaround story under new leadership (ex-Potbelly CEO). Author is heavily invested, highlighting the 7% dividend, $900M land value vs $1.5B market cap, and near 52-week lows.
Quality assessment: Boots-on-the-ground DD with limited data (single observation, two locations, no historical comparison). More speculative than rigorous, but offers a retail sentiment catalyst.
Score482
Comments177
Upvote %94%
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I did something I've never really done - research. I downloaded the app (currently ranked 22nd in food and drink in the App Store and created an account.
I decided to check out a couple of Wendy's within a few miles of me and see if it is trash or treasure. First location is in a great location - near a bunch of businesses with good signage. I arrived at 11:41am and walked inside for a frosty. The place was clean, workers seemed busy, and the frosty was good (chocolate). I counted 4 people inside. I got a frosty and went back to my car to count the amount of vehicles going into the drive thru and walking inside. I left at 12:23pm and counted 35 cars with 18 people walking inside. One car left because the line was too long at one point. I should also note that I could not see if people parked on the other side and walked in but my guess would be. a few people at a minimum.
[Chocolate Frosty](https://preview.redd.it/8bjzp4nztn9h1.jpg?width=480&format=pjpg&auto=webp&s=ef2f21a63d9fc78639195e78fb3c00217c3e8648)
I then went to another location and arrived at 12:35pm. This location is more residential and not as nice. The building next to it used to be a restaurant but closed down years ago and it has remained vacant since. I walked in and saw 6 people sitting inside enjoying some food. I got some fries - they were hot. I went back to my car to do the same thing and count. I counted 11 vehicles for the drive thru and 2 people walked in. I left at 12:53pm.
https://preview.redd.it/hdri7j1hwn9h1.jpg?width=480&format=pjpg&auto=webp&s=8e637b520f32cd3de42b86178702e774b28e599b
Overall both places seemed fairly busy, but I have no way of telling if this is normal or increased traffic since Wendy's has been getting some media attention. I do however believe that they will beat next earnings. I think a bunch of regards from reddit are going to buy what they invest in.
Some things I'd change about Wendy's:
1. Bring back the yellow cups - nostalgia is powerful and should be used.
2. Their app is pretty garbage. Certain things wouldn't load and compared to the McDonalds and BK app - Wendy's doesn't really have meal deals listed.
3. Do something crazy like partner with RH and give extra benefits to shareholders.
Things I like:
1. The dividend - about 7%
2. The fact that the land they have is valued at around 900M. Not bad for a 1.5B stock.
3. The turnaround story - former CEO of Potbelly's which was acquired by Racetrack.
4. Near 52 week lows still.
Position:
[Position](https://preview.redd.it/d58jvx5cwn9h1.png?width=1160&format=png&auto=webp&s=b8d35cafea7bd212f10bb9a4aab438a0c1b6be03)
I'm basically all in, just have a little cash leftover that I will use to buy more.
Regards.