Wendy's is the market's latest short squeeze. JPMorgan flags 3 other stocks that could be next.

Wendy’s has become the latest short-squeeze target as retail traders piled into the burger chain, driving a 25% jump on Wednesday and extending gains with another 9% rise on Thursday. Vanda Research data, which tracks retail inflows into single stocks and ETFs, showed Wednesday was the second-biggest day of net retail buying for Wendy’s since 2012, behind only Nvidia and SpaceX. The setup mirrors past momentum trades, helped by high short interest of about 32% of float. JPMorgan analyst Arun Jain cited the interaction between retail buying and hedge-fund short interest to flag possible “next” squeeze candidates. Smartbird (formerly Allbirds), the Campbell’s Company, and Oddity Tech were singled out, with short interest near 20%–25% of float.