Mediterranean fast-casual restaurant Cava makes its trading debut today, offering $22 per share, giving it a market value of $2.45 billion. Analysts were skeptical of Cava’s initial public offering pricing, comparing it to other restaurant IPO debuts like Sweetgreen and Portillo’s, which debuted at high numbers but eventually declined. The restaurant industry is experiencing a post-pandemic boom, as consumers return to eateries in droves, and Cava’s IPO performance will be “a good indicator for more companies to launch in ’24.” Read More