U.S. Fast Casual Stock Surges 2 Trillion Won in One Day

CAVA Group Inc. (CAVA) jumped 12.19% on the New York Stock Exchange, closing at approximately $89.91 per share and lifting its market capitalization to about $10.4 billion (roughly KRW 14 trillion). In a single trading day, its market value rose by roughly $1.45 billion (nearly KRW 2 trillion), with trading volume around 2.04 million shares.

The rally appears to have been driven by TD Cowen’s decision to maintain a “Buy” rating on CAVA and raise its price target from $90 to $100. Prior to that, Bernstein and J.P. Morgan also upgraded the stock, and Wall Street is closely watching the company’s first-quarter earnings report scheduled for mid-May as well as plans to open over 70 new stores in 2026.

CAVA Group is a U.S. fast-casual chain specializing in Mediterranean-style salads and bowls. After acquiring Joyce Kitchen for about $300 million in 2018 to fuel its growth, the company went public on the NYSE in 2023. Ron Shaich, founder of Panera Bread, was an early investor and helped lead the IPO. Often touted as a “Chipotle rival,” CAVA is viewed as a high-growth stock, with revenue expected to exceed $1.1 billion in 2025.