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It’s mostly because it is a big decision.
Oddly enough, CEO picks can make a big change in the stock price. Most of this is sentiment based imo because you really have no idea how a CEO will actually do. That being said, if they don’t make a good pick then the stock price could go down even more. They may also just be waiting to see how the interim CEO does. I would be surprised if they leave the CFO as CEO but it could happen. 🤷♂️
RE: Wendy’s Q4: A Headline Beat, But Cracks Remain Beneath the Surface