Jessica Alba’s Honest Co. Loses Post-IPO Gain in Stock Slide
- Shares fall below $16 for first time since debut last week
- Consumer-goods companies facing uneven demand as pandemic ebbs
Honest Co. co-founder Jessica Alba discusses going public.
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Honest Co.’s stock slump deepened as the consumer-goods company started by actress Jessica Alba fell below the price set in an initial public offering just last week.
The shares tumbled as much as 10% to $15 Tuesday morning in New York, dipping for the first time below the $16 IPO price on May 4. After gaining 44% in the first day of trading, the stock has lost about a third of its value.