Jessica Alba’s Honest Co. Slumps Less Than a Week After Its IPO
- Shares down as much as 13%, on track for third straight drop
- Demand for consumer packaged goods losing pandemic boost
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Honest Co.’s shares tumbled again on Monday, extending a slide just days after the consumer-goods company started by actress Jessica Alba made a splashy debut in the public markets.
A decline of as much as 13% sent the shares as low as $16.52, approaching the initial public offering price of $16 on May 4. After soaring 44% on its first day of trading, the stock declined more than 7% in the next two sessions and was on pace Monday for its third straight drop.