2 Must-Know Facts Before You Buy Cava Stock Hand Over Fist
Shares of Cava (NYSE: CAVA) have done nothing but satisfy investors' appetite for high returns. They have more than tripled since October 2023. That momentum was bolstered by the company's latest financial results that revealed Cava beat Wall Street revenue and earnings estimates for the fiscal 2024 first quarter that ended April 21.
Investors are probably wondering if this restaurant stock is worthy of a position in their portfolios. Before you rush to buy shares hand over fist, know these two facts first.
Cava's main attraction for investors is that it has huge growth potential. Management wants to have 1,000 stores open by 2032, up from the current footprint of 323. This target, no matter how likely or unlikely it is to happen, can draw excitement from the market. After opening 72 net new stores last year, executives plan to open 50 to 54 this year.
Source Fool.com
