Meridian Funds: Honest Company Declines Amid Mixed Earnings Results

The Honest Company's (HNST) stock declined amid mixed earnings results, with earnings exceeding expectations but sales falling short. The company's decision to exit the Canadian market and baby apparel business was seen as strategically positive, sharpening management's focus on more profitable growth. Meridian Contrarian Fund reduced its position to realize tax losses but continues to hold a stake, believing the market has overreacted to the news.