Jessica Alba’s Honest Co. soars 44% in stock market debut
NEW YORK (AP) — The stock of the diaper and baby-wipe seller founded by actress Jessica Alba soared more than than 40% in its stock market debut. That gave the Los Angeles-based Honest Co. a market value of nearly $2.1 billion. Alba founded Honest Co. a decade ago. She said she was prompted to start the company after baby laundry detergents that she was using caused her allergic reactions. Its stock, trading on the Nasdaq under the symbol “HNST,” rose 7% to close at $23. Alba, who has starred in “Sin City” and the “Fantastic Four” films, has a 6.1% stake in Honest Co. that was worth nearly $130 million after the stock’s first day of trading.