Why Cava Group Stock Jumped 162% in 2024 but Is Down 24% From Its Peak

Shares of Cava Group (NYSE: CAVA) were soaring last year as the fast-casual Mediterranean chain posted quarter after quarter of blowout results in its first full year as a publicly traded company.The numbers helped convince investors that Cava is the heir apparent to Chipotle Mexican Grill, the leading fast-casual restaurant, which has jumped more than 5,000% from its 2006 initial public offering.According to data from S&P Global Market Intelligence, Cava stock finished the year up 162%, making it one of the top performers in the consumer discretionary sector, though it is down substantially in recent weeks.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool