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Vonage Yes this is my first posting, but I have been lurking for quite a while.
I am
Yes this is my first posting, but I have been lurking for quite a while.
I am a VG stock owner who purchased on the IPO and added to my position afterwards.
Yes, I am losing money at the current price.
Yes, I know the risk I took.
I had spent over 13 years in the financial world, with the last several at Bear Stearns and knew this was a very risky gamble, but I felt like doing it anyway, knowing I could afford to lose all my investment and be OK.
What is the story with the cry babies from the Vonage forum that think they are entitled to participate in admittedly risky IPO as long as they don't lose money. One lady, was quoted in the press from this stock forum complaining that 1) she wanted 5000 shares and only got 1,300 shares and 2) those 1,300 shares had the nerve to decline in price, and therefore shouldn't have to pay for it. Yes, I read the stock allocation thread and see that several people also only got 1,300 out of 5,000. Consider that a blessing. I really wonder if they understand that if they flipped the stock, as they likely wanted to do (because if they were long-term investors they wouldn't be crying, but rather would be sitting there patiently for long-term appreciation) they would need to pay for their shares before they could get their sales proceeds, which means you would have to pay between $80,000 (if it came at $16 a share) or $90,000 (if priced at $18/share). The way those people are whining they likely don't have $80-90mm to risk/play with.
The fact the institutional investors were not interested was a big clue. Having been in the business I know that there are great IPO's, good IPO's and bad IPO's. If a client is going to get the good and great IPO's they have to be willing to take the bad ones and hopefully scratch them or lose very little. That is the deal. The company going public makes money, the institution gets their underwriting fees, the stockbroker makes his/her commission and often the customer makes money-but 3 out of 4 ain't bad the thinking often goes.
Vonage got what it needed, a cash infusion. Hopefully they will use it to increase business and therefore profits. Let's let them use it so we can all make some money. The worst thing we can do is get some fat cat lawyers rich at the expense of us and Vonage. Sure we may well and after lawyers fees get 10 cents on the dollar and really hurt VG's chances of becoming profitable (one out of three win that way).
I went through the online process to sign up for the IPO and know that even if the prospectus link did not work the first time it did work many of the other times I logged in, plus you could just go to Vonage's site to download it, so that is a lame excuse to try and get out of this investment.
For the person that thought the IPO would be priced at $13, well if you took a moment to read the expected price range you would have known of the 16-18 dollar range, so silly you.
Read The Full Thread: Class Action Suit Filed
• It has begun... :twisted:
Press Release Source: Motley Rice LLC
Investor
• Probably the first of many. They are still fishing for a lead plaintiff.
• It was just a matter of time. I am just glad there will be some representation to
• The idiot ambulance chaser is probably a Vonage customer that bought into the
• This isn't a Ron Popeil Turkey Jerky Machine.
Hey, that thing makes some damn
• LOL - you have to be the least informed person on this board.
• rudedog40 you said well, as have many others.
I subscribed to the IPO, made
• so just out of curiousity, why are you posting on this board. Do you often post on
• I'm posting now because I am following these threads. I've been a Vonage subscriber
• [quote="jlridge"]
It depends, did the mortgage company conspire with the
1invester posted "Yes this is my first posting, but I have been lurking for quite a while.
I am" on 06/02/2006 |
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