Requested 4400, received 1100. I should have simply requested 5000...oh well, that's the way these IPOs work..and clearly there are people who are not used to investing here..which is fine, but just don't complain. Good luck everyone, go Vonage!
Here's how the allocations went based on various request sizes. Request=Allocation 5000=1300 4000=1000 3000=800 2000=500 1000=300 900=300 800=200 700=200 600=200 500=200 400=100 300=100 200=100 or 0 by lottery 100=0
I also received a big fat 0! I only requested an allocation of 100 figuring the worst I could do was lose $1700. I do understand investing and knew there was the possibility of getting 0.
The possible problem I see with the way the IPO was offered to Vonage customers is I am sure there were many people who might not fully understand what has happened and are angry right now. Will these people cancel their service? Will it hurt Vonage? Does Vonage even care??? Don't know, but those of you with shares, I wish you the best of luck (and no, I will not be buying any on the open market tomorrow.)
an easier way to "unload" the stock tomorrow is to sell it SHORT when you are happy/unhappy with the price it is at at your regular on-line brokerage account (Fidelity,...).
then you can simply DTC the shares you have been allocated to that account at a later date to cover that transaction. DTCing stock is fairly simple...
I do this all the time because most of the time I need to open a new account to participate in juicy IPOS and that is a trick from these brokers to get my future business and fat commissions.
Requested 5,000, allocated 1300. which is exactly as the Prospectus stated. My take on this is that offering was oversubscribed. I called my broker at Smith Barney at about 1 pm pst and he stated there was a high level of institutional interest about 4 times oversubscribed. He said a HOT ISSUE. Obviously, if i requested 5,000 and got the min allocation of 25% it seems the bashing Tuesday by the media did not impact the institutions buying. The only negative i see is the overall market is poor.
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