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Vonage Vonage Bankers completely screwed us, the small investor and long time Vonage
Vonage Bankers completely screwed us, the small investor and long time Vonage customer. They knew the stock wasn't worth $17 when they dumped it on us. Banks are supposed to support the stock they push/sell at IPO's.
What does that mean? It means they start buying the stock in the open market for the first few days to months to push the stock up and make the IPO successful.
Why do they do this? Because if they have a successful IPO then next time other companies will want to use them for their IPOs and other banking needs. It shows that they bring success to their customers and leads to greater sales and revenues for them. The only time they wouldn't do this is if they know that the stock is very horribly incorrectly priced! And they do know, because they're the ones who do all the analysis and set the price. In these cases, they're willing to throw their reputation out the window because supporting (buying) the stock will cause them to loose a ton of money.
Vonage obviously doesnt give a **** either. They're happy to take our money to the bank.
Why do you think this is stupid? This is the whole theory behind IPO pricing by underwritters. If you think this is stupid, than you obviously have no background in finance. Underwritters are obligated to make a market in the stock for months after the issue, this is a known fact. I can tell you right now it does not appear that they are doing so, as it took me 20 minutes to get filled on a limit sell order that was way below the market price. This order should have been executed right away, if there was no buyer on the market smith barney should have made the market and bought my shares right away.
Read The Full Thread: Vonage Bankers Bent Us Over !!
• Vonage Bankers completely screwed us, the small investor and long time Vonage
• You're kidding, right? This is darn close to the dumbest thing I have ever read.
• Dan needs to get in here and clean this sort of stuff up. This topic adds nothing
• Nothing of value? While I may not agree with the opinion posted, s/he does have
• Although I simplified the process, my point is valid. People in the industry know
• No one can tell what happened at the open unless they are or have a stock broker friend.
• Not true... I have a TDAmeritrade account that I use for my active trading and I
• Pardon my naiviete', but I can't help but think a few things: First, aren't IPO's
• This is the part I don't understand. The underwriters are responsible for setting
ckudrna posted "Vonage Bankers completely screwed us, the small investor and long time Vonage" on 06/02/2006 |
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