Wendy’s launched its breakfast menu nationwide in early March 2020, just before pandemic lockdowns shuttered dining rooms.
And even though McDonald's is still the dominant player in the early-morning daypart, Kane said he thinks Wendy's could eventually become number one.
Shares of the company have risen 7.6% over the last 12 months, bringing its market value to $4.76 billion. The stock has underperformed the S&P 500, but it's doing better than shares of McDonald's and Restaurant Brands International.Wendy's breakfast was available nationwide for only about two weeks before states and localities ordered restaurants to shutter their dining rooms and switch to serving their food through delivery, takeout and drive-thru lanes.
Wendy's had a leg up on the competition anyway since it had already designed the first two-and-half hours of its breakfast service to be drive-thru only.
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