The fast-casual concept has become one of the hottest trends in the restaurant industry. Chipotle Mexican Grill (NYSE: CMG) was one of its pioneers, offering a limited menu of quality food made from fresh ingredients, made to order, at reasonable prices. From those humble beginnings, a burgeoning industry was born.

Since the company's initial public offering (IPO) at $22 in 2006, Chipotle shares have risen an astonishing 9,213% (as of the market close on Thursday). Given the company's unbridled success, it isn't surprising that investors are always on the prowl for the next Chipotle.

The recent debut of Cava Group (NYSE: CAVA), which offers fast-casual dining with a Mediterranean flair, has investors revisiting this frequently asked question. The stock just dished up one of the best IPOs since 2021, with shares soaring 99% on its first day of trading. 

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Source Fool.com