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24.04.26 - 19:09
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Cava′s Lone Bear Analyst Flags Weak Foot Traffic After Stock′s 123% Surge (ZeroHedge)
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Cava's Lone Bear Analyst Flags Weak Foot Traffic After Stock's 123% Surge
Northcoast Research analyst Jim Sanderson has emerged as Cava Group's lone bear on Wall Street, warning in an interview with Bloomberg that the stock's 123% rally has gone too far.
"The risk profile, given what I see macroeconomically, is unnerving," Sanderson said in the interview. He noted that the recent surge in the stock has made it very expensive to own.
He continued, "The red flag for me was seeing that traffic at some of the mature locations seemed to be very underwhelming, and in many instances, trending negative for several months relative to the peer group."
Cava is the Mediterranean version of Chipotle and builds customers' meals around greens, rice, or pita, then adds proteins, spreads, toppings, and sauces. As with any fast-casual restaurant chain, there is typically a period of consumer hype. And as we all know, on a long enough timeline, nothing lasts forever.
Cava stock is trading at a hefty premiu...
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