Good morning, Broadsheet readers! A Senate investigation finds inmate abuse at the majority of federal prisons, antiabortion activists are targeting abortion pills, and the new CEO of the Honest Company tackles a challenging market environment.
- Honest work. The Honest Company, the personal care and consumer goods brand founded by actor Jessica Alba, went public in May 2021. Its shares popped 40% on the first day of trading, raising more than $400 million.
But the market has taken a dramatic turn since then, and today the Honest Company's shares are trading at around $3, down 82% from their IPO price. That's a challenging market response for the company—and it hopes a new CEO will help navigate the tough climate.
