CNet News.com reports that Vonage shares dipped 4% to $16.25 in trading this morning. The reality is less pretty. As this chart from Nasdaq shows, Vonage shares opened at $16.50, below the $17 they were initially priced at, and have continued to fall. It looks as if there was a mass of trading at the open, and then the price tanked. As I write this, they’re in the low end of $15.
How much lower will they go as the day progresses?
UPDATE: 11:28 now trading at $14.55
UPDATE: 12:02 now trading at $15.10. Are they on an upswing, or is this a blip?
Streamcast filed an updated complaint Monday morning, in their ongoing suit against Skype and 21 other companies. Andy Abramson first reported on this last March, and I wrote a summary of the suit at the time, from the faxed copy which Andy had uncovered. Monday’s update:
- Adds EBay to the suit. No surprise. EBay is the deep pockets.
- Asks for damages of $4 billion.
- Adds anti-trust allegations to the complaint.
- Seeks an injunction to prevent Skype from “selling” any more of their VoIP product.
Do you suppose Skype’s North American giveaway campaign was a legal gambit? Nah…. couldn’t be!
