Cava (NYQ:CAVA) is a relative newcomer to the fast food market in the US (I hold). It has 279 restaurants and serves good quality Mediterranean food at competitive prices. It went public on June 15th 2023 at $22 (the price jumped 99% on the first day). Since then it has been volatile. The price is now $40. Over the last few days the price has surged with a large increase in volume. Stockopedia calls it a 'momentum trap' - presumably because of weak fundamentals. It has promising relative strength, and is rated a strong buy by 12 brokers. Whilst clearly speculative, it has realistic potential to be multi bagger over the next 5 years and is well worth a look for those of us who like the US markets. There's a useful article in Motley Fool from back in September for more detail.
An update for anyone interested in US stocks, Cava (NYQ:CAVA) has completed a cup and handle formation and is on the way up from its high of $57.7 in August 2023 - currently $65.84. The stock is high risk / speculative, but in the current strong bull market in the US it's likely to go higher short-term before correcting.
