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THUD: There Goes the Vonage IPO

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?

{ 1 comment… add one }

  • bob bottieri June 3, 2006, 2:20 pm

    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.

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