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?
Alec Saunders is the Vice President of Developer Relations for BlackBerry maker Research in Motion. This is his personal blog, with his personal viewpoints. Prior to this Alec was the CEO and co-founder of Calliflower — the easiest way to hold a meeting, online, on a conference call, or on the go. A double-decade veteran of product management and marketing, he spent nine years at Microsoft where he helped launch Windows 95, the first two versions of Internet Explorer, the Universal Plug and Play initiative, the push into home markets, opt-in email marketing and what might well go down in history as the very first direct email list ever.
{ 1 comment… read it below or add one }
I think vonage was torpedoed by the big phone companies, negative hype from "the establishment", and probably special interest groups, who stand to lose "big time" by vonage's popular momentum. I cannot ever recall any private company that was going public, offering their loyal customers first dibs on a ipo.
Vonage was a most anticipated ipo. People have been talking for over a year about when this company was going public !! They have a great service, outstanding value, and great portability. Excellence in customer support and honesty… i've never been as pleased with a phone service as this one !!!
It's a crying shame that the consumer will suffer once again by all this negative, pre-orchastrated BLOG
My sincerest prayers go out to Vonage; That they will triumph over this evil that's out there.