How Much Higher Can Cava Group Stock Go?

One of the hottest food stocks to own this year has been that of Cava Group (NYSE: CAVA). The Mediterranean restaurant chain went public last year, and while it didn't get off to a great start, 2024 has been a much better year for the stock. Year to date, Cava's valuation has risen by more than 220%, and it's currently trading around its 52-week high. What's behind the stock's impressive rally, and is Cava still a great buy today?A big reason Cava is able to attract a lot of growth investors is due to the impressive growth numbers it generates. Not only is the company growing organically, it's also aggressively launching more locations to spread its reach and penetrate new markets. And although its growth rate has slowed down from the monstrous levels it was at a year ago, the business' sales are still expanding by more than 35%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool