SHARES of Hollywood star Jessica Alba’s Honest Co (HNST.O) traded sharply higher on their Nasdaq debut on Wednesday, valuing the consumer goods company at around $2 billion.
The shares were trading 37.5% higher than the IPO price, at around $22, on Wednesday afternoon in New York. Alba’s 6.1% stake in the company is now worth $124 million.
“This is an incredible jump off into building a company that I hope will be around for 100-plus years,” Alba, the company’s co-founder and chief creative officer, said in an interview.
“Our growth, fueled by being public, will enable us to drive more product innovation and consumer accessibility,” added Alba, known for her acting roles in the film “Fantastic Four” and TV series “Dark Angel.”
Honest’s offerings include eco-friendly baby products, vitamins, sunscreen lotions and sanitizers that are sold online and through partnerships with brick-and-mortar stores including Costco and Target.
The company’s debut
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