[Wendy's shares soaring for a second day](https://www.cnbc.com/2026/06/25/wendys-shares-soar-for-a-second-day-as-retail-investors-pile-into-their-new-meme-darling.html) on pure momentum is the classic setup for a bag hold. The headline admits it: "disconnected from company fundamentals." That's not a bull signal — that's a warning flag. When retail piles into a stock with zero earnings revision catalyst, smart money exits.

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