Last Night Had 0, Tonight Have 1300?

Posts: 25 · Vonage Forum Junior Joined: May 25, 2006 Posts: 25

libbyloo wrote:

I know I am just going to get pounded on this, but I feel I need to say this. I have always believed people should take responsibility for their actions. Always blaming on others has become the American norm.

Blaming the cigaret company for getting cancer, blaming MacDonald's for getting too fat, blaming hot coffee for getting yourself burned and lately blaming Vonage for buying Vonage stocks. The fact is you chose to smoke, eating fatty burgers and buying VG stocks.

There are so many people here do not a thing about investing. I wonder how many people actually took the time to study VG's competitive environment, financials, etc before they decided to buy in. Actually, there is a whole lot simpler way - a LOT of people have done the research for you, all you got to do is to study it.

Let me tell you another thing, 99.99% chance you are liable for purchasing the stock. If you don't pay for them, the brokerage firm will liquidate them for you and will try to collect the rest of the money from you.

Vonage stock next week prediction - down again. Why, the AOL incompatibility news alone will send this stock lower. What's the big deal about not working with AOL, you say? I can get into lengthy discussions, but simply the negative news posted on the news wire is enough to do some damage. Welcome to the life of a public traded company.

One last thought, I can't help but wonder what would all of you say had VG stock sky rocked rather than tanked about looking at 0 allocation one night and got shares allocated the next morning.

Terrible things happen to people on the stock market. Admitted it, you made a bad investment decision and move on. If you do a fair amount of investing, you know this won't be the last bad decision you will be making. I had my own fair share of bad decision making. A lot of people did when the market tanked a few years ago. That's life. You can talk here all you want, it has great therapeutic benefit, but it won't get your money back.

i agree wholeheartedly, the stockmarket is like Vegas, but normally you get to see your cards before you bet. that is the whole issue here, maybe we learn a lesson from this...
i dont think a majority of the people are complaining about the questionable, volatile market with this stock, its not knowing you got it after a period of trading, but good luck...
i've grown weary of trying to find a solution.

and the other point you made, what happens if Vonage pops 300%? well it hasnt, and most realistically it wont.
THATS LIFE.
cya~

Posts: 13 · Vonage Forum Associate Joined: May 25, 2006 Posts: 13

libbyloo wrote:

I know I am just going to get pounded on this, but I feel I need to say this. I have always believed people should take responsibility for their actions. Always blaming on others has become the American norm.

Blaming the cigaret company for getting cancer, blaming MacDonald's for getting too fat, blaming hot coffee for getting yourself burned and lately blaming Vonage for buying Vonage stocks. The fact is you chose to smoke, eating fatty burgers and buying VG stocks.

And rightfully you should get pounded. This isn't about making a bad decision to buy VG. Obviously it was. The difference is that had I known I had shares Wednesday morning, I would have been up at 6:30am PDT watching the market like a hawk. I could have made a decision about selling or holding. Instead, I didn't find out until Thursday. My decision was made by the incompetence of the allocation procedure.

Whatever. I'm sure you'd be all 'that's life' if something similar happened to you. To be lumped in with litigation-happy fools....

Kicking myself for feeding the trolls...

Posts: 9 · New Forum Member Joined: Mar 21, 2005 Posts: 9

libbyloo wrote:

I know I am just going to get pounded on this, but I feel I need to say this. I have always believed people should take responsibility for their actions. Always blaming on others has become the American norm.

Agreed. If vonageipo.com had an error that caused people to be told that they had 0 shares, and owed $0 after the allocation then vonageipo.com should take responsibility for their actions.

libbyloo wrote:

Terrible things happen to people on the stock market. Admitted it, you made a bad investment decision and move on.

Now you are just being glib. They understood the risks but due to the glitch they didn't have the ability to mitigate their losses because they didn't even know they had shares. How can you think that is fair?

We aren't just talking about the few that are on this forum. There could be tons others that fell prey to this glitch that still don't have any idea they own shares. I have a friend that told me he requested 2500 shares and was allocated 0. I thought it was strange as it has been clear that those that requested over 200 were allocated some. Later that evening I read about the allocation problem on this forum and I still haven't been able to contact them to warn them that it might have been a glitch.

So even though I don't have any shares, I'm still concerned because this could be a lot bigger than just the few users that wander into the forum.

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

jeffml wrote:

libbyloo wrote:

I know I am just going to get pounded on this, but I feel I need to say this. I have always believed people should take responsibility for their actions. Always blaming on others has become the American norm.

Agreed. If vonageipo.com had an error that caused people to be told that they had 0 shares, and owed $0 after the allocation then vonageipo.com should take responsibility for their actions.

I agree 100%.
If you bought Vonage stock and watch it go down without selling, then you are responsible for your loss.

However, if you were told you did not receive any shares, and your investment was at a loss by the time you found out that you were allocated shares afterall, I do not think you should be held responsible for that loss.

While I feel sorry for anyone who has lost money on Vonage, I feel those who fell victim to this website error deserves to be compensated for the loss that occured prior to them finding out about the error.

Posts: 57 · Full Forum Member Joined: Sep 03, 2005 Posts: 57

If VG stock is at $40 today. I highly doubt anyone who whines here would say:"Please take those shares back. I did not have them the night before." If VG tried to take those shares back under this scenario, everyone here would come up all kinds of reasons why VG shouldn't. Don't tell me that's not the truth.

I am sorry so say that our country's population as a whole has become feeling deserving of everything.

Please take your losses and responsibilites and move on. You can always make the losses back on other stocks.

Posts: 25 · Vonage Forum Junior Joined: May 25, 2006 Posts: 25

libbyloo wrote:

If VG stock is at $40 today. I highly doubt anyone who whines here would say:"Please take those shares back. I did not have them the night before." If VG tried to take those shares back under this scenario, everyone here would come up all kinds of reasons why VG shouldn't. Don't tell me that's not the truth.

I am sorry so say that our country's population as a whole has become feeling deserving of everything.

Please take your losses and responsibilites and move on. You can always make the losses back on other stocks.

you dont get it do you?
go outside and bang your head against the wall until the feeling comes back.
first, you are talking about things people control, then you start spouting off about something else...

oh! look! there is a soap box with your name on it on the "immigration issue" over there!

dont pretend to talk for the rest of us.
please.

YOU CANT WORK STOCK YOU DON'T KNOW YOU HAVE!
HELLOOOO!

Posts: 1 · New Forum Member Joined: May 27, 2006 Posts: 1

I'm glad I'm not in the same situation as some of you. Hours before the IPO I cancelled my conditional order to buy based on the days of research that I had been doing. Also, I checked the website many, many times per day to be sure my order was indeed cancelled because of my paranoia of brokerage firms. The experience many of you have had just confirms my belief that I've stuck to since 1998: I stick to mainly Mutual Funds with a real investment broker that I can call on the phone and that I've met in person. Investing isn't my life, but I realize the need to invest and leave that to those who are professionals at doing such. The experience that lead me to this was in 1998 when I opened an account with SureTrade to get in on the internet IPO action. All trades were supposed to be pre-funded and I did not have a margin account. Internet IPO's were hot, and I had made quite a few thousand day trading my student loan money and spent hours in the lab. First mistake was day trading, second mistake was using money I couldn't afford to loose, third mistake was being too risky. To make a long story short, stocks were shooting up so fast that a market order placed for a specific amount ended up being triple per share when the order was actually placed by the computer system just minutes later. Somehow, my internet trading account allowed me to purchase more stock than I had funded the account - like $15k more. I immediately called the company and claimed that their system should not have put an order through, they claimed it was a computer glitch and that they were not liable for it (as stated in my signed agreement with them). I did nothing with the stock and 4 days later as the stock plummeted the brokerage automatically liquidated the account and all other stock that I had with their firm leaving me with $0. I got an attorney and got nowhere. An entire semester's student loan money gone as well as the thousands I had made on other stocks. The Vonage IPO sounded appealing and I was about to break my rule, but I just kept getting the haunting 1998 feeling and luckily bailed out in time. Anyway, I would cut your losses as soon as possible. You're only hope would be some sore of class action lawsuit with dozens of plaintiffs to join you. But even then, if you read the details of the allotments - which I did read prior to the IPO and you should have too - the minimum that would be allotted was 100 shares to anyone with a conditional offer (that was where they explained all of the fancy language on how the shares requested would be divided if the number of shares requested by customers went over the percentage of the shares reserved for the customer purchase). So, 0 shares was entirely unreasonable and you should have realized the flaw in the system and contacted someone to find out you're true allotment. You can waste the money on an attorney, do nothing and wait for your stock to go even lower and let the brokerage firm sell it for you and send you the bill, pay for it and ride it to see if it will go back up, or you can just bail out as soon as you can and cut your losses and learn an expensive lesson. Also, keep in mind the brokerage firms also have the ability to ruin your credit rating if you do not pay up. You're in a tough position, but it's 1998 all over again, and I know exactly what's going to happen to you.

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

"I know I am just going to get pounded on this, but I feel I need to say this. I have always believed people should take responsibility for their actions. Always blaming on others has become the American norm."

Such a blanket statement is not only baseless, but childish. After I read that statement, I stopped reading the post.

Posts: 57 · Full Forum Member Joined: Sep 03, 2005 Posts: 57

Well, I am getting a mix of responses as I was expecting. Glad I touched a lot of nerves. The truth hurts, isn't it??

The fact of the matter is that YOU, ONLY YOU DID ASK for shares. When it is allocated to your account does not matter. This argument will not go anywhere in any court. So stop **** about Vonage. You KNOW you are pissed because the stock is at $13.00 today, NOT because Vonage DID not show your shares in time!

Stop sugar coating all these I am victim B.S. You pulled the trigger and ASKED for shares. Vonage has done nothing wrong.

Posts: 9 · New Forum Member Joined: Mar 21, 2005 Posts: 9

libbyloo wrote:

When it is allocated to your account does not matter

Ok. Now you made it clear where you are confused about what people are saying. They were told that no shares were given to them. At that point they accepted that and moved on only to later find out that vonageipo.com made a mistake.

At what point would it be reasonable to believe you don't have any shares allocated? Should the folks (like me) that login today to check their account and see 0 shares allocated keep checking every three minutes? At some point you have to believe that when vonageipo.com says you don't have any shares, you don't have any shares. A reasonable person would make that determination at the point when the website changes from saying that shares are unallocated to the point that you have been allocated 0 shares.

libbyloo, if you are just trying to get a rise out of people please don't keep doing it. I've read your other posts and you seem pretty smart. Nobody has a problem with the gist of what your saying but that it is not in the right context of the complaint. I asked for 100 shares and was allocated 0, but I'm probably the most vocal because there is a valid complaint. Take a step back and try to see what the discussion is really about.