Just like the weather, the IPO market seems to be heating up for the summer. This week, a pack of 17 new issues are slated to list on various exchanges, beating the previous week's total by three. An investor could build an admirably diversified portfolio simply by opening positions in a grab bag of the stocks coming to market in the coming days.

Before we pick out three selections from that container, though, we have to issue our usual caveat: IPO investing carries above-average risk, as initial stock prices can be far from the value the market eventually puts on the company's shares. This situation provides great upside potential, but on the flip side it carries the risk of losing a significant part of an investment.

That said, here are this week's selections.

The reigning king of action photography thanks to its lightweight, portable, high-definition cameras that can be mounted on pretty much anything, GoPro is about to GoPublic. The company has a strong and identifiable niche thanks to its popular technology, and it's not too shabby on the business side, either. Revenue has ballooned over the past few years to nearly $1 billion in fiscal 2013, and the company has consistently managed to grow its bottom line.

Shares of GoPro are going on sale Thursday for $21 to $24 apiece, and 17.8 million of them will list on the Nasdaq under the ticker symbol GPRO. The issue's lead underwriters are JPMorgan Chase's (NYSE:JPM) J.P. Morgan, Citigroup (NYSE:C), and Barclays (NYSE:BCS).

ServiceMaster Global Holdings
Describing itself as "a leading provider of essential residential and commercial services," ServiceMaster has a portfolio of brands that clean and restore your home, and even kill the pests lurking in it. The best-known of this set of services is probably Terminix, the bug control specialist, and household clean squad Merry Maids. It's a sprawling company, which despite its size hasn't been profitable in recent fiscal years. But it's managed to grow its top line consistently, and some of those brands (particularly Terminix) are quite strong on the market.  

A total of 35.9 million shares of ServiceMaster Global Holdings will be released on Thursday for $18 to $21 per share. J.P. Morgan, Credit Suisse, Goldman Sachs (NYSE:GS), and Morgan Stanley (NYSE:MS) are lead-underwriting the flotation. The stock will trade on the New York Stock Exchange, bearing the ticker symbol SERV.

The Michaels Companies
In a rather inspiring blend of art and commerce, this operator is the No. 1 arts-and-crafts supplies retailer in the nation. It boasts a 1,263-strong network of stores, which draw nearly half of their revenue from the firm's proprietary branded products. Michaels has done a good job stitching a pattern of growth since the beginning of this decade, with the bottom line more than doubling from fiscal 2010 to 2013.

The Michaels Companies will make its stock market debut on Friday, trading on the Nasdaq under the ticker symbol MIK. Nearly 27.8 million shares will be offered for sale at a price of $17 to $19, and the issue's lead underwriters are J.P. Morgan, Goldman Sachs, Barclays, and Deutsche Bank Securities. 

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Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Goldman Sachs and owns shares of Citigroup and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.