Market Rebound Sparks Big Swings: Cava and WillScot Surge While Elastic and Veeva Slide

US stocks bounced Friday after a brutal Thursday, with traders leaning back into a “Fed could get friendlier” narrative. That risk-on tone lifted some beaten-down names, but software investors stayed picky, punishing anything that looked merely “fine” instead of exceptional.

What happened today

Cava ($CAVA) surged about 12% as buyers stepped into a stock that’s been crushed after weak Q3 results and a trimmed full-year outlook. Investors are debating whether the selloff went too far versus the brand’s long runway.

WillScot Holdings ($WSC) jumped about 11% after Baird upgraded the stock and raised its target, calling out a potential cyclical tailwind if rates ease.

On the downside, Elastic ($ESTC) slid roughly 15%  ...