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Today we bought Wendy's at $4.69 a share at 3:50 PM EDT in our Real-Time Alerts. Hedgeye Restaurants Sector Head Howard Penney is warming up to the longer-term changes Wendy's is making, but this is a trading stock until they prove to be for real. We'll manage the risk and the range for now.

TRADE OF THE DAY: WEN - WENTTOTD