These 10 Stocks Were Sold Down Today, And Here’s Why

8. CAVA Group, Inc. (NYSE:CAVA)

CAVA Group extended its losing streak for a fourth straight day on Monday, shedding 6.97 percent to finish at $90.06 apiece, with investors appearing to have shunned the company’s impressive earnings performance and raised outlook for the rest of the year.

In its latest earnings release, CAVA Group, Inc. (NYSE:CAVA) said net income in the first quarter of the year jumped by 84 percent to $25.7 million from the $13.99 million registered in the same period last year due to higher operating performance coupled with an income tax benefit of $10.7 million related to equity-based compensation, which partially offset higher depreciation and amortization.

Revenues increased by 28 percent to $331.8 million from $259 million.

Buoyed by the promising figures, CAVA Group, Inc. (NYSE:CAVA) raised its full-year outlook for adjusted EBITDA, now pegged at between $152 million and $159 million as compared with the $150 million to $157 million previously.