News Formal

Cava restaurant chain soars in stock market debut, hits $4.7B valuation

  • 📰 nypost
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 67%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Investors are warming up to IPOs this year after a volatility-fueled 2022 curbed appetite for new listings and fueled a risk-off sentiment.

“The fact that CAVA is unprofitable and generating this level of interest is certainly an important development,” Matthew Kennedy, senior IPO market strategist at Renaissance Capital told Reuters, adding that IPO activity will gradually normalize in the second half of the year.

A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange on Thursday.“We think the markets are always welcoming long-term sustainable growth stories, especially category defining brands, as we try and define the Mediterranean category,” Cava co-founder and CEO Brett Schulman said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mediterranean restaurant chain Cava stock soars more than 100% in market debutThe parent company of Mediterranean restaurant chain Cava started trading on the New York Stock Exchange.
Source: CNBC - 🏆 12. / 72 Read more »

Mediterranean restaurant chain Cava stock soars as much as 107% in market debutThe parent company of Mediterranean restaurant chain Cava started trading on the New York Stock Exchange.
Source: CNBC - 🏆 12. / 72 Read more »