Circle Doubles in Wild First Day of Trading for Stablecoin Firm

Circle Internet Group Inc. had one of the splashiest debuts in years, with shares surging 168% after the company and some of its shareholders raised nearly $1.1 billion in an upsized initial public offering.

Shares of the stablecoin issuer more than tripled from the IPO price of $31 each, climbing as high as $103.75 apiece on Thursday while being halted several times for volatility. The stock closed at $83.23 in New York.