Screw customers who can't committ $90000 - bad move?

Posts: 2 · New Forum Member Joined: May 23, 2006 Posts: 2

I want to thank Vonage and/or the financial companies who did not select me for the IPO (asked for 100 got 0). I was able to buy the stock a lot cheaper ($14.65) when it tanked.

THANK YOU!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Posts: 21 · Vonage Forum Associate Joined: May 21, 2006 Posts: 21

Vonage may loose customers because of this,,,,

Posts: 40 · Posted: Wed May 24, 2006 4:20 pm Post subject:

Quote:

Vonage may loose customers because of this,,,,

Vonage didn't need this to lose customers, they are losing many everyday without going public.

I wonder how many of the Vonage customers that were able to buy stock actually did their homework before doing so?

Posts: 80 · Vonage Forum Senior Joined: May 24, 2006 Posts: 80

It is ironic to see how people were pissed of yesterday for not getting their shares, and then today we saw this big drop, and it turned out that NOT getting the shares was a blessing in disguise.

It is hard to understand how the IPO could be oversubscribed, yet the stock drops as it did.

I do feel sorry for everyone who lost money today. However, this does give Vonage believers a chance to get in at a lower price if they still belive the price was right.

Good luck to everyone!

Posts: 14 · Vonage Forum Associate Joined: May 23, 2006 Posts: 14

It is hard to understand how the IPO could be oversubscribed, yet the stock drops as it did.

I agree a great mystery to me. I am willing to bet this is the only well known consumer brand name tech company which has done an ipo that feel on the first day. I trade for a living and I can not think of one.

News of the over subscription may have been greatly exagerated. And yet Vonage customers got about 1/5 of their requested shares. Again a great mystery to me. I got 1300 and it cost me $2k, a very expensive wall street lesson and I do this for a living (not ipo's, but a lot of fast trading). I was trying to sell at about 16.25 and by the time I got through to the broker and they executed dropped to 15.60. Could have been worse, but not much.

And yes Vonage will lose customers, which will make holding this stock even more painful. My traders gut says someday it will hit 17, but I had no interest in this company other than a flip. My trade is done as an investment I think there's a lot better stocks out there.