Shares of newly public restaurant company Cava Group (NYSE: CAVA) sank this week. According to data provided by S&P Global Market Intelligence, Cava stock was down 14% for the week, as of early trading on Friday morning. This is far more than the roughly 2.5% drop for the S&P 500 during this same time period.

Cava had its initial public offering (IPO) in June. As is the norm with promising companies, Cava stock absolutely soared after the IPO, jumping from its IPO price of $22 per share to as high as about $57 per share by the end of July.

However, it's also normal for enthusiasm to die down with IPO stocks, no matter how promising they are. That seems to be what's happening with Cava stock now and it's why it sank this week.

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Source Fool.com