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Reddit crowd piles into fast food. (0:15) Hertz plunges after proposing stock and bond offerings. (1:19) SK Hynix unveils plans for $29.4B Nasdaq listing. (2:11)

This is an abridged transcript of the podcast:

Our top story so far, the Frosty maker's getting frothy and the taco maker's on a tear.

Wendy's (WEN) is rallying more than 25% after becoming a favorite topic on the WallStreetBets Reddit (RDDT) community.

The fast-food chain features the classic meme-stock recipe of high short interest and an iconic consumer brand.

"WEN is currently sitting at $6 (ouch.) The market cap is barely over $1B. We're talking about a nationally recognized brand with 7,000+ restaurants globally, a business model that is mostly franchised. Their dividend is actually not too bad given the price," read one post calling on the "pigtailed savior to make a comeback."

In May, Wendy's appointed Robert Wright as chief executive, taking over from interim CEO Ken Cook. Earlier this year, Nelson Peltz's Trian Fund was reportedly seeking investor backing for a takeover bid.

Shares of Wendy's had drifted to a multi-year low of $6.07 on Tuesday before the social-media campaign kicked into overdrive.

And Jack in the Box (JACK) is along for the ride, posting its best day in nearly five years with shares up more than 15%.

About one-third of the company's float is sold short, helping fuel a round of short covering as meme traders piled into the name.

Among other active stocks, Hertz (HTZ) is plunging 30% after proposing a $100M stock offering alongside a $300M bond offering.

FedEx (FDX) is lower despite beating earnings expectations. Looking ahead, FedEx forecast calendar 2026 EPS of $16.90 to $18.10, with the top end barely above the $18.09 consensus.

Take-Two Interactive (TTWO) is choppy after its Rockstar Games division confirmed that pre-orders for Grand Theft Auto VI will begin June 25 at midnight local time.

The highly anticipated game for Sony's PS5 and Microsoft's (MSFT) Xbox Series X/S will cost $79.99, with the Ultimate Edition priced $20 higher.

And Adobe (ADBE) released initial figures for Amazon's (AMZN) four-day Prime Day event, which is being matched by other major e-commerce sellers.

Online spending rose 5.3% year over year to $8.3B on Tuesday, the first day of the sale.

In other news of note, red-hot South Korean memory-chip maker SK Hynix (HXSCL) has announced plans for a $29.4B Wall Street listing.

The company plans to list American Depositary Shares on the Nasdaq Global Select Market under the symbol "SKHY" and begin trading on July 10.

The offering is being led by Bank of America, Citigroup, Goldman Sachs and JPMorgan.

And in the Wall Street Research Corner, fun for fans, but not a boon for business.

Pantheon Macro says the World Cup has yet to provide a meaningful boost to U.S. economic activity.

Business surveys, card-spending data and airline passenger traffic show little evidence that the tournament is supporting demand.

June PMI surveys suggest the economy has less momentum than it did a year ago.

Meanwhile, non-gas spending in June has converged with year-ago levels after posting annual increases in every previous month this year.

Growth in airline passenger traffic through TSA checkpoints has also remained near zero so far this month.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.