Anyone thinking about stiffing the underwriters?

Posts: 18 · Vonage Forum Associate Joined: May 22, 2006 Posts: 18

They clearly screwed up. This thing should have been priced at 15. Anyone thinking about not paying for this dog? Discuss possible repercussions.

Posts: 62 · Full Forum Member Joined: Apr 29, 2005 Posts: 62

jimikim wrote:

They clearly screwed up. This thing should have been priced at 15. Anyone thinking about not paying for this dog? Discuss possible repercussions.

Wow, what a great idea. Are you the same guy that goes to a baseball game, his team loses, and you go ask for your money back?

What did they screw up? The pricing? The underwritters got Vonage $17 a share for something that is not worth $17 a share. If anything, the underwritters did a better job than would be expected. They are in the business of raising capital for clients. Vonage is their client. They raised money for them. They do not care about adding value to investors, they have a reputation on the line to raise capital for the client, and that is what they did, and they did a better job at it than is expected.

Posts: 18 · Vonage Forum Associate Joined: May 22, 2006 Posts: 18

ckudrna wrote:

jimikim wrote:

They clearly screwed up. This thing should have been priced at 15. Anyone thinking about not paying for this dog? Discuss possible repercussions.

Wow, what a great idea. Are you the same guy that goes to a baseball game, his team loses, and you go ask for your money back?

What did they screw up? The pricing? The underwritters got Vonage $17 a share for something that is not worth $17 a share. If anything, the underwritters did a better job than would be expected. They are in the business of raising capital for clients. Vonage is their client. They raised money for them. They do not care about adding value to investors, they have a reputation on the line to raise capital for the client, and that is what they did, and they did a better job at it than is expected.

Good point but bad analogy. If I got into a baseball game for free I would not pay on exit, whether the team wins or loses.

Anyways we're suppose to discuss possible repurcussions of stiffing.

Posts: 49 · Full Forum Member Joined: May 15, 2006 Posts: 49

You basically signed a contract to pay for your shares. if you dont then they will just put you into collection and then it goes on your credit score. I just sold my shares and took the hit, but i am going to mail my check like i am supposed to. The market is a gamble and looks like we may lose on this one. I should have just gone to Atlantic City (Casinos) and gambled at least woulda been more fun.

Good luck to you all who have entered this gamble.

Posts: 5 · New Forum Member Joined: May 22, 2006 Posts: 5

jimikim wrote:

They clearly screwed up. This thing should have been priced at 15. Anyone thinking about not paying for this dog? Discuss possible repercussions.

Possible repercussions? How about breach of contract? Lawsuit? Sending a collection agency after you to collect on a bad debt and screw up your credit?

It's no one's fault but yours. You bought the stock, you knew what you were buying. Stop trying to blame other people for your mistake, and pay your bills. Now I'm just glad my request for 100 shares wasn't filled.

Posts: 62 · Full Forum Member Joined: Apr 29, 2005 Posts: 62

jimikim wrote:

ckudrna wrote:

jimikim wrote:

They clearly screwed up. This thing should have been priced at 15. Anyone thinking about not paying for this dog? Discuss possible repercussions.

Wow, what a great idea. Are you the same guy that goes to a baseball game, his team loses, and you go ask for your money back?

What did they screw up? The pricing? The underwritters got Vonage $17 a share for something that is not worth $17 a share. If anything, the underwritters did a better job than would be expected. They are in the business of raising capital for clients. Vonage is their client. They raised money for them. They do not care about adding value to investors, they have a reputation on the line to raise capital for the client, and that is what they did, and they did a better job at it than is expected.

Good point but bad analogy. If I got into a baseball game for free I would not pay on exit, whether the team wins or loses.

Anyways we're suppose to discuss possible repurcussions of stiffing.

You got in on Vonage for free? They tossed you free shares? Wow, anyone else get that kind of treatment?

We all paid for something (Vonage stock or the baseball game), the result is not what we wanted (stock goes down baseball team loses) so it is acceptable to go ask for a refund or stiff the unerwritter? Good plan.......I'll send you a postcard.

Posts: 8 · New Forum Member Joined: May 24, 2006 Posts: 8

Fellas, if you liked it at 17, you must love it at 15.69. Hope you all learn your lesson on investing in a "oversubscribed" stock next time.

If you sold at a slight loss, at least you won't get blood the next time you wipe.

So enjoy.

Posts: 62 · Full Forum Member Joined: Apr 29, 2005 Posts: 62

p_canale wrote:

Fellas, if you liked it at 17, you must love it at 15.69. Hope you all learn your lesson on investing in a "oversubscribed" stock next time.

If you sold at a slight loss, at least you won't get blood the next time you wipe.

So enjoy.

Vonage had one decent thing going for it, that it was a tech IPO in an IPO market that was doing pretty well as of late.

The company is just a bad company. Poorly run, poor future prospects, and a poor business to be in if you are not a large telco or cable co.

Now how about GM today........!!

Posts: 5 · New Forum Member Joined: May 22, 2006 Posts: 5

p_canale wrote:

Fellas, if you liked it at 17, you must love it at 15.69. Hope you all learn your lesson on investing in a "oversubscribed" stock next time.

If you sold at a slight loss, at least you won't get blood the next time you wipe.

So enjoy.

Lotta blood on the street today for VG. I guess it's true what they say, you can't get water from the sun.

Rock and roll, deal with it.

Posts: 1123 · Vonage Forum **MVM** Joined: May 26, 2005 Posts: 1123

p_canale wrote:

Fellas, if you liked it at 17, you must love it at 15.69. Hope you all learn your lesson on investing in a "oversubscribed" stock next time.

If you sold at a slight loss, at least you won't get blood the next time you wipe.

So enjoy.

Holy crap, I had to clean snarfed coffee off my screen! Very Happy