Jim Cramer Reveals Why CAVA Group, Inc. (CAVA) Is Struggling

We recently published Jim Cramer Just Couldn’t Stop Talking About These 13 Stocks. CAVA Group, Inc. (NYSE:CAVA) is one of the stocks Jim Cramer recently discussed.

CAVA Group, Inc. (NYSE:CAVA)’s shares have lost a whopping 41% year-to-date due to struggling sales that have led to disappointing earnings. August has been a particularly poor month for the stock as it sank by 16.6% following a second-quarter earnings report, which saw CAVA Group, Inc. (NYSE:CAVA)  cut its midpoint same-store sales growth guidance by two percentage points to 5%. In his previous comments about the firm, Cramer has maintained that high menu prices are the reason behind CAVA Group, Inc. (NYSE:CAVA)’s struggles. He kept at it this time around as well:

“They’re too high. Costs too much. Versus when you go to Brinker and you get that ten dollar burger with a three for me, they use top shelf. . .”

Here are Cramer’s earlier thoughts about CAVA Group, Inc. (NYSE:CAVA):

“[On recent earnings] Yeah and I do think that when we look at Cava, not mentioned on the call, it’s expensive. You’re talking about 15 smackers versus go and get a smash burger a couple of drinks, a diet coke. Yeah but Chilli’s is ten dollars.

“And Cava, unfortunately is not cheap. It just costs too much for a dinner for a family of five.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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