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Vonage I've been reading this forum and am just baffled by the attitudes here. I was able



I've been reading this forum and am just baffled by the attitudes here. I was able to participate in the offering, and debated both with myself and my wife how much to invest. I like the service Vonage offers and felt like it was a good investment in the long run, but it seemed like a risky investment. And there was that urge to jump in big and try to make a big play if the stock did well. But this didn't seem like the right gamble, and rather than not participate, I chose to set my allocation at simply 100 shares. $1700 was the amount of money I was willing to lose if things went in the worst way.

Well, I admit that I was disappointed when I found that I wasn't allocated any shares. I wanted some, otherwise I wouldn't have agreed to the shares in the first place. So there I am, disappointed that I didn't get my 100 shares, and trying to see how others fared. I come here and find people who are complaining that because they only got 1/3 of the 5000 shares that they wanted. OK, me and my 100 shares were obviously piddly, I figured there were a lot more serious investors than I. Boy, I guess I couldn't have been more wrong.

Maybe I felt a little pang of relief when the stock started dropping. My initial feeling was "fine, now I can save a few bucks and still get the stock I wanted". But when people started making excuses why they shouldn't have to pay for their allocations, it made me angry. The same people who were so hungry for shares that they edged me out on this bet in the first place were now reneging on their bet. You clicked a thousand checkboxes that said you knew exactly what you were doing. If the stock had gone up, I'd have known that I missed out because I hadn't wagered enough. But when it went down, those people who were willing to bet big suddenly scattered like cockroaches. You took my shares, then refused to pay for them.

The funny thing is that I was interested in picking up some of the stock after it had dropped a bit. But now that so many people are trying to escape their obligations and kicking up dust with these class action suits, I'm not willing to buy at any price. Any judging by the plummeting stock price, neither is anyone else. So to those who aren't willing to pay: you made a bet, you lost, pay up. If you don't, then you're making another bet, one that you're probably going to lose. And even if you don't, you've hurt yourself and everyone else in the process. It's nothing to be proud of. You were greedy, and dishonorable when the bottom fell out.

Just think, if all those people who thought they were owed a pot of gold had instead invested at their true ability, this stock might still be at the opening price or higher.



Read The Full Thread:

You took my shares and then refuse to pay?


You're preaching to the choir. Now you wil hear the rath of ckundra and audiotron
Bunky, I support your view 100%, Not paying for the shares you took a chance on buying
I'm glad to hear that there are some reasonable people here, I guess the outrageous
Your argument fails. You state that since I knew what I was doing I must therefor
LOL. I told you audiotron or ckundra would pipe up. Frivilous lawsuits? Are you
Not only didn't pay but left and joined a different provider. Why are you even on
You're right in one sense: it's clear that you have no idea what you're doing.

I just heard a loud, "SMACK". :-D

bunky posted "I've been reading this forum and am just baffled by the attitudes here. I was able" on 06/17/2006

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