What's Going On With Cava Group Stock Thursday?

CAVA Group Inc CAVA shares are trading higher Thursday following an announcement that the company will be added to the S&P MidCap 400.

What Happened: After the market close on Wednesday, S&P Dow Jones Indices announced a rebalancing of the S&P MidCap 400 and S&P SmallCap 600 indices.

Cava Group will replace Altair Engineering Inc ALTR in the MidCap index effective prior to the opening of trading on Monday. The adjustment comes after Siemens acquired Altair Engineering.

Angi Inc ANGI will also replace ODP Corp ODP in the S&P SmallCap 600, effective before the open on April 2.

See Also: US GDP Growth Upwardly Revised In Q4, Trade Deficit Slightly Narrows As Auto Exports Soar In February

How To Buy CAVA Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Cava's case, it’s in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

CAVA Price Action: Cava Group shares were up 3.15% at $89.40 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Cava Group.