Dutch Bros stock closes first day trading up nearly 60%

Coffee shop chain Dutch Bros saw its stock close the day up nearly 60% at $36.68 per share in its NYSE market debut, which valued the company at $3.8 billion. Dutch Bros listed 21 million shares at $23 apiece, above its initial range of $18 to $20 per share. Based in Grants Pass, Ore., the company owns over 470 stores and had received prior backing from PE firm TSG.