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

Shares of Cava Group (CAVA 1.57%) 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 th ...