Jim Cramer Believes CAVA is a “Great Long-Term Position” But Suggests Waiting for More Dip

CAVA Group, Inc. (NYSE:CAVA) is one of the stocks Jim Cramer shared insights on. Noting the stock’s recent ups and downs, a caller asked if there is any reason for the “wild swing”. Here’s what Cramer had to say in response:

“Yes, yes. It’s what I call, it’s a terrible trader, and there’s been these big chunks that come for sale, and you have to just close your eyes. You can’t watch the trading because it’s very, very unnerving, and you want to hit it on a real dip, which you don’t have right now because it was down to 70 earlier this year. Wait for more of a dip for Cava, but I think it’s a great long-term position.”

Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels

CAVA (NYSE:CAVA) operates restaurants under the CAVA brand and provides a range of food products like dips, spreads, and dressings. The company sells its products through grocery stores, along with online and mobile ordering.

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Disclosure: None. This article is originally published at Insider Monkey.