hot issue

An issue that sells at a premium over the public offering price on the first day of trading.

Investopedia Says:
During 1998-99, many internet stocks shot up dramatically in price. These stocks are examples of hot issues.

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Newly issued stock that is in great public demand. Hot issue stocks usually shoot up in price at their initial offering, since there is more demand than there are shares available. Special National Association of Securities Dealers rules apply to the distribution of hot issues by the selling investment banking syndicate. See also Underwrite.

The noun has one meaning:

Meaning #1: newly issued stock that is in great public demand
  Synonym: hot stock