Cava Stock Has Hit an All-Time High. What Could a New Bull Market Bring?
Cava Group (NYSE: CAVA) launched its IPO at a fortuitous time. At the time of the June 15 IPO, the S&P 500 had gained 19% for the year. A few stocks more than doubled during that time, and many analysts declared a "new bull market."
Time will tell whether the increases continue for Cava, or the market in general. Nonetheless, investors might gain some insight by looking closely at the restaurant stock in a potential bull market.
Investors should first acknowledge that Cava is in a bull market of its own. The company offered shares at $22, and investors immediately took the stock higher. Those fortunate enough to buy at the $22 per-share price have already seen returns more than double from that level.
Source Fool.com
