Where Will Cava Stock Be In 1 Year?
Cava Group (NYSE: CAVA) got off to a buoyant start last month, spiking sharply higher at its June 15 initial public offering. The Mediterranean-style restaurant chain set the share price at $22 per share, but the stock closed at $43.30 per share.
However, the shares have come down slightly since that time. And with investors looking more closely at the company and other restaurant stocks, it could struggle over the next year. Here's why.
Cava has a fast-casual approach and a focus on healthy ingredients, which has led many observers to call it the Mediterranean food version of Chipotle Mexican Grill. The restaurant chain has grown to 263 locations as of April 16. This includes conversions of Zoe's Kitchen locations, a chain it acquired in 2018.
Source Fool.com
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