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Review: My First Day With Vonage, Excellent!
Review: My First Day With Vonage, Excellent!



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Great Price, No Complaints



You need some common sense.
You need some common sense.



Vonage Customer Review: One month with Vonage, and...
Vonage Customer Review: One month with Vonage, and...




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Vonage I'm glad I'm not in the same situation as some of you. Hours before the IPO I cancelled



I'm glad I'm not in the same situation as some of you. Hours before the IPO I cancelled my conditional order to buy based on the days of research that I had been doing. Also, I checked the website many, many times per day to be sure my order was indeed cancelled because of my paranoia of brokerage firms. The experience many of you have had just confirms my belief that I've stuck to since 1998: I stick to mainly Mutual Funds with a real investment broker that I can call on the phone and that I've met in person. Investing isn't my life, but I realize the need to invest and leave that to those who are professionals at doing such. The experience that lead me to this was in 1998 when I opened an account with SureTrade to get in on the internet IPO action. All trades were supposed to be pre-funded and I did not have a margin account. Internet IPO's were hot, and I had made quite a few thousand day trading my student loan money and spent hours in the lab. First mistake was day trading, second mistake was using money I couldn't afford to loose, third mistake was being too risky. To make a long story short, stocks were shooting up so fast that a market order placed for a specific amount ended up being triple per share when the order was actually placed by the computer system just minutes later. Somehow, my internet trading account allowed me to purchase more stock than I had funded the account - like $15k more. I immediately called the company and claimed that their system should not have put an order through, they claimed it was a computer glitch and that they were not liable for it (as stated in my signed agreement with them). I did nothing with the stock and 4 days later as the stock plummeted the brokerage automatically liquidated the account and all other stock that I had with their firm leaving me with $0. I got an attorney and got nowhere. An entire semester's student loan money gone as well as the thousands I had made on other stocks. The Vonage IPO sounded appealing and I was about to break my rule, but I just kept getting the haunting 1998 feeling and luckily bailed out in time. Anyway, I would cut your losses as soon as possible. You're only hope would be some sore of class action lawsuit with dozens of plaintiffs to join you. But even then, if you read the details of the allotments - which I did read prior to the IPO and you should have too - the minimum that would be allotted was 100 shares to anyone with a conditional offer (that was where they explained all of the fancy language on how the shares requested would be divided if the number of shares requested by customers went over the percentage of the shares reserved for the customer purchase). So, 0 shares was entirely unreasonable and you should have realized the flaw in the system and contacted someone to find out you're true allotment. You can waste the money on an attorney, do nothing and wait for your stock to go even lower and let the brokerage firm sell it for you and send you the bill, pay for it and ride it to see if it will go back up, or you can just bail out as soon as you can and cut your losses and learn an expensive lesson. Also, keep in mind the brokerage firms also have the ability to ruin your credit rating if you do not pay up. You're in a tough position, but it's 1998 all over again, and I know exactly what's going to happen to you.



Read The Full Thread:

Last Night Had 0, Tonight Have 1300?


So, last night I logged onto my Vonage IPO account and was unceremoniously informed
Ouch... That is cruel..... It seems those who wanted 5000 shares got 1300,
Well, my question is do I have a leg to stand on to fight it? Had I known I received
I hope you can get this issue resolved as desired, and for the amount of money involved,
I can't be the only person this happened to. If anyone else had a likewise experience,
People last night were saying that when they first logged in it said 0, but after
I believe you were viewing a cached version of the page, had you hit F5 you would
Probably somewhere in the depths of all the fine print you will see you are poo out
So, last night I logged onto my Vonage IPO account and was unceremoniously informed
Well folks, I'm the one who logged in to Vonage IPO at 8:30/9:00pm on Tuesday night

vguser1234 posted "I'm glad I'm not in the same situation as some of you. Hours before the IPO I cancelled" on 05/28/2006

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1Unlimited calling and other services for all residential plans are based on normal residential, personal, non-commercial use. A combination of factors is used to determine abnormal use, including but not limited to: the number of unique numbers called, calls forwarded, minutes used and other factors. Subject to our Reasonable Use Policy and Terms of Service.

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