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Premarket Movers Wednesday: Wendy's, Workhorse, SPI Energy

Stocks moving in premarket trading Wednesday include Wendy's, Workhorse Group, SPI Energy, Clover Health and Lordstown Motors.

Stocks were wavering Wednesday one day after the S&P 500 ended just short of a record closing high.

Here are some of the top movers during premarket trading on Wednesday:

1. Wendy's | Up 0.5%

Wendy's  (WEN)  wavered after surging to a record on Tuesday as the restaurant chain entered the world of meme stocks. TheStreet.com Founder Jim Cramer says the company's Reddit-fueled rally is short-lived.

2. Workhorse Group | Up 8.8%

Shares of Workhorse Group  (WKHS)  soared as the electric-vehicle maker was swept up in the meme-stock trading by small investors. The stock's rise, seemingly driven by no specific news, matches the activity seen in other stocks.

3. SPI Energy | Up 40%

SPI Energy  (SPI)  revved up after the renewable-energy company’s Phoenix Motorcars unit started series production of its third-generation drive-train products for electric vehicles. The first three units were completed in an Ontario facility and are ready for delivery, the company said.

4. Clover Health | Up 21%

Clover Health Investments  (CLOV)  shares extended their Reddit-fueled surge Wednesday and look set to open at a record. The move comes as the health-insurance seller, backed by the venture capitalist Chamath Palihapitiya, adds its name to the list of meme-stock gainers. 

5. Lordstown Motors | Down 5%

Lordstown Motors  (RIDE)  shares were lower after the electric-truck maker said in a Securities and Exchange Commission filing that it didn't have enough cash on hand to build vehicles at scale and sell them, and that "these conditions raise substantial doubt regarding our ability to continue as a going concern."