The initial public offering (IPO) market has been mostly quiet over the past year after a record amount of IPOs in 2021, a special purpose acquisition company (SPAC) bust last year, and a bear market. But as the market creeps back up and investors are getting more enthusiastic about new opportunities, there have been some strong recent debuts. Cava Group (NYSE: CAVA) and Oddity Tech (NASDAQ: ODD) are two IPO stocks that have incredible potential and could crush the market.

Cava was one of the first IPO stocks this year to cause a stir when it debuted in June. It operates a fast-casual concept similar to the one popularized by Chipotle Mexican Grill with a focus on Mediterranean fare, and it's been demonstrating impressive growth.

Revenue increased 62% in the 2023 second quarter, and unlike many fast-growing restaurant chains, it wasn't driven primarily by new stores but an 18% increase in comparable sales. That's a key metric to watch, because it signifies loyalty, brand power, and organic growth prospects.

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Source Fool.com