Last week Respect Your Universe, Inc. (OTC:RYUN) announced the launch of their online web store. The sales would be the first revenue generated by RYUN.
Despite trading lower through the day, RYUN managed to close flat at $1.44 on Friday. Both on Thursday and Friday the volume was a little over 100 thousand shares, lower than the average.[BANNER]
In the press release RYUN states it “…anticipates sales on the web store to exceed expectations.” While the phrasing doesn’t make much sense, unless the expectations come from someone else, if the revenue is significant the market will react in a more obvious and positive manner.
Previously, on Aug. 10 RYUN announced it had closed another round of equity financing. The company stated the round wasn’t planned, but the management was pleased by the way events turned out. The dollar-per-share round provided approximately $2.1 million for RYUN.
With working capital secured, for the time being, and the start of sales, RYUN shareholders are probably in anticipation of the first results of the confidence they demonstrated in RYUN.
