Is It Too Late to Buy Cava Stock?
Cava Group (NYSE: CAVA) is a Mediterranean-themed fast-casual restaurant chain. It's very popular with customers, with same-store sales increasing a huge 17.9% in 2023. Wall Street has seen the potential here and drove the stock price up over 80% since its mid-2023 initial public offering.
Is it already too late to get in on Cava's stock growth? That depends on how you look at it.
At the end of the first quarter of 2024, Cava operated 323 restaurants. It opened 14 new locations during Q1, helping support a year-over-year increase in the store count of nearly 23%. Sales in Q1 rose a massive 30% versus the prior-year period. Cava hasn't been public for very long, but it sure has put up some very big growth.
Source Fool.com
