Why the Funtastic (ASX:FUN) share price opened 10% higher today

Funtastic Limited (ASX: FUN) shares opened nearly 10% higher this morning after the company updated investors on its future growth prospects. In early trade, the Funtastic share price jumped to 11.5 cents before retreating to 10.5 cents, flat for the day so far.

By comparison, the S&P/ASX All Ordinaries Index is currently trading 0.17% lower.  

Let’s take a look at what the toy and lifestyle products producer reported today.

What caused the Funtastic share price to jump?

The Funtastic share price responded positively this morning after the company announced it would be relaunching its Babies R Us brand and expanding its warehouse…