Shares of Cava Group (NYSE: CAVA) are as sizzling as its spicy lamb meatballs. The company debuted on the stock market with an initial public offering (IPO) in June, and it's already up more than 120% from its IPO price.

Investors are thirsting for new growth stocks in this parched IPO desert of 2023, and this chain of Mediterranean eateries has a lot going for it. Here are three reasons its stock could soar.

Cava is a fairly young company, and it has huge expansion plans. Every new store is its own revenue-generating opportunity, which is why new chains offer massive potential.

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Source Fool.com