Cava stock pops after blunder leads to early earnings release


A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City.

Spencer Platt | Getty Images

Cava’s stock climbed as much as 15% on Tuesday after the Mediterranean restaurant chain released its earnings report a day early.

Investors were expecting Cava to announce its earnings after the bell Tuesday afternoon, but the company issued its press release Monday evening instead after early versions of the results appeared in news reports shortly after the market close.

Cava’s shares closed up 12% on Tuesday.

The company reported fourth-quarter net income of $2.05 million, or 2 cents per…

Source cnbc.com

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