The IPO Market Extends Its Comeback

Initial public offerings are like the ghosts in the 80s supernatural movie Poltergeist. They’re ba-ack!

Caris Life Sciences, a company that uses artificial-intelligence technology to help develop cancer treatments, and Slide, a specialty insurer focusing on property and casualty policies for customers in Florida and other states on the Atlantic coast, both debuted Wednesday and surged from their offering prices.

Shares of Caris were up 25% from their offering price in mid-afternoon trading. The company priced its IPO at $21 a share, above its offering range, and raised nearly $500 million from the stock sale.