Was Jim Cramer Right About These 10 Stocks?

8. Cava Group, Inc. (NYSE:CAVA)

Number of Hedge Fund Holders: 47

A viewer called in to ask about Cava Group, Inc. (NYSE:CAVA), following Cramer’s earlier comparison of the stock to Chipotle. After a sharp selloff at the time, the caller wanted to know whether it was a sector-wide issue or stock-specific. Cramer responded:

“It’s interesting question. I think you’re going to get — anytime you have a move the way Cava has moved — which again is this parabolic move situation — this stock’s up 77% for the year. So you got to believe that there’ll be some people say, ‘you know what, just ka-ching ka-ching ka-ching,’ and that’s what you’re experiencing. I wouldn’t be surprised if that didn’t go down to 70 — it’s had such a big run. But I’m sticking by my view that it could be another Chipotle.”

He was right to believe in the brand, as the stock rose 30.51% over the following year.

Cava Group, Inc. (NYSE:CAVA) is a Mediterranean fast-casual restaurant chain offering customizable bowls and pitas made with fresh ingredients. On April 29, Cramer was asked about the stock and he replied:

“I like it here. I like it here for the long term. Why? Because I think the Mediterranean is a kind of food that can be like Chipotle, it can be the previous, you know, just the way Chipotle had a big run. I think Cava can too.”