Cava Group (NYSE: CAVA) stock soared 116% in the first half of the year according to data provided by S&P Global Market Intelligence. It's been on a tear as it picks up in popularity and investors see it as the next great restaurant chain.

Cava is the Mediterranean answer to fast-casual dining. Customers love its fresh and healthy approach to food, with tasty dishes at an affordable price. Like other fast-casual chains, it targets a resilient population that has discretionary income and can afford takeout despite inflation. Its healthier concept also resonates with affluent millennials who are into health and fitness.

Cava is still a small outfit, with only 323 stores as of the end of the 2024 first quarter. But it has entered several states already and demonstrated relevance in different regions. That's enough for investors to be confident that it can pull off a huge expansion and grow their investments several times over.

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Source Fool.com