#CNBC Why Cava stock plummeted 18% this week

Why Cava stock plummeted 18% this week
Cava stock just wrapped up one its worst weeks ever after missing on Q2 revenue estimates and lowering its full-year same-store sales growth target for the first time. Shares of the fast-casual chain have fallen nearly 40% this year, despite soaring 160% in 2024.

Rival chains in the space have also struggled this quarter with slumping sales. Chipotle reported same-store sales declines of 4%, while salad chain Sweetgreen saw its stock plummet after the company cut its outlook for the second straight quarter.

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