Jessica Alba's Honest Co. Jumps in Market Debut
Shares of the Honest Co. , the eco-friendly consumer-goods business co-founded by actress Jessica Alba, jumped 33% in their first public trading on Wednesday.
Honest’s shares opened at $21.22, compared with the initial public offering price of $16. Based on the opening price, Honest is valued at $2.48 billion.
More recently, the stock traded at $22.10 a share.
The Los Angeles company specializes in baby products such as diapers, clothes, bath items and skin care, as well as household products and face masks. Honest’s shares are listed on the Nasdaq Stock Market under the symbol HNST.
The IPO raised more than $100 million for Honest, which the company plans to use for expanding its product lines and geographic reach.
Published at Wed, 05 May 2021 16:57:00 +0000
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