Toast shares closed up 56% at $62.51 per share in its NYSE debut, giving it a market cap of $31B+ after raising ~$870M in its IPO (Ari Levy/CNBC)

Ari Levy / CNBC:
Toast shares closed up 56% at $62.51 per share in its NYSE debut, giving it a market cap of $31B+ after raising ~$870M in its IPO  —  – Toast priced its IPO at $40 on Tuesday, above the expected price range of $34 to $36.  — Annual recurring revenue surged 118% in the second quarter …