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Despite the AI and Bio Tech Hype , a Restaurant Chain is the Hottest IPO this Year

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the staff of the Ridgewood blog

Ridgewood NJ, Despite the hype surrounding AI IPOs and biotech startups over the past year, none have made quite the splash on like Cava.

Dubbed the “Mediterranean Chipotle” by its financial backers, the restaurant chain has seen its stock soar over 300% since its June 2023 IPO, bringing its market valuation to over $10 billion. This impressive figure translates to approximately $33 million for each of its 323 rapidly expanding locations, a staggering sum for a restaurant chain.

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