Shares of Medline, which sells medical products such as ECG/EKG machines and post-operation bandages, were up more than 31% in afternoon trade above 38. The Nasdaq-listed stock opened nearly 21% above its IPO price of $29 a share, which marked $6.26 billion raised by the company.

Shares of Applied Digital (NASDAQ: APLD) jumped on Thursday, finishing the day up 8.6%. The spike came as the S&P 500 and the Nasdaq Composite finished up 0.7% and 1.3%, respectively.

U.S. stocks ended sharply lower for the second straight session, with the S&P 500 recording its fourth straight day of losses, as investors continued to offload tech stocks on growing concerns over the valuation of artificial intelligence (AI) stocks.