Why would anyone buy shares from ANY company IPO, esp. in the tec area?
Obviously to make money.
In many cases, investing in an IPO has proved to be a good investment. While there might have been many danger signs in the Vonage IPO, I am sure many investors gambled that it would not matter, and that the stock would go up anyways, at least in the short term.
The situation seen in the Vonage IPO where it was virtually impossible to get out of the stock even at break-even after the IPO is very, very rare, as is the size of the following fall in price per share for the first few trading sessions.
Life is good. Just having one of my weekly rants. I'll be better when the new features come out.
At risk of being off-topic here, I am not sure who will be more happy for you when you have your ACR: Me happy for you or you happy for yourself.
When you do get it, please still do come back and post, ok?
Always. My Vonage service works too good. So I have to have something to b*tch about. LOL Thanks for putting up with me Ok, time for me to put on my p*ssed off face again. Until, my next rant....
_________________ Verizon didn't want to spend a little money on me so now I don't spend my money on them.
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LOL --- I don't blame you dconnor, I would be distancing myself from this dog, too...you will probably get called as a witness in the lawsuits.
This is really, really ugly.
No, No, that is not it at all. I own and paid for my shares and I bought more today. But that is my business. 1,000,000+ other shares were bought today also.
The issue is that some of the national press (Washington Post) referred to this site today as the "investors' forum hosted on Vonage's Web site" which is just not true.
Dan, I am curious to know if you are still buying more shares??? What are your feelings on what is happening to the stock price?
dconnor Site Admin
Joined: Mar 05, 2003 Posts: 2251
Location: The Beach
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LOL --- I don't blame you dconnor, I would be distancing myself from this dog, too...you will probably get called as a witness in the lawsuits.
This is really, really ugly.
No, No, that is not it at all. I own and paid for my shares and I bought more today. But that is my business. 1,000,000+ other shares were bought today also.
The issue is that some of the national press (Washington Post) referred to this site today as the "investors' forum hosted on Vonage's Web site" which is just not true.
Dan, I am curious to know if you are still buying more shares??? What are your feelings on what is happening to the stock price?
I am not buying at the moment as I am traveling. I am happy to hear about the patent purchases and looking forward to more good news along those lines. I also see that marketing is pushing heavily the addition of a second line, which should add significantly to the 4q numbers. Remember - I have never stated that I am in for the short haul - I am not.
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I agree that pushing second lines is a good idea, more revenue from the same customer.
There is no reason, however, to think buying the patents was a good idea. Vonage will soon be short on cash (it had net assets of negative 61 million before the IPO), and the money it paid for the patents and the money it will spend defending them is money they don't have for other purposes. They were also probably shopped around to other Voip companies who passed on them, or were outbid by Vonage. I trust the judgment of Verizon and Comcast, who decided not to buy the patents, more than Jeff Citron's.
Presumably whoever sold them the patents are not dummies and would not have sold them for less than their fair market value. The patent purchase in my estimation ranges from neutral to slightly negative.
The patent purchase in my estimation ranges from neutral to slightly negative.
It is negative - it was simply an attempt to buy some positive press and avoid litigation.
It's not coincidence that these patents were ignored by every other telco. I suspect Vonage paid well over the odds in order to avoid litigation.
Quote:
I am happy to hear about the patent purchases and looking forward to more good news along those lines.
Forced defensive moves are not good news.
Quote:
I also see that marketing is pushing heavily the addition of a second line
That's a much more positive move. But...
Quote:
should add significantly to the 4q numbers
That depends on whether or not Vonage start to get squished by the telcos. I think that's likely to happen very very shortly. It can't be long until the big telco's start to consider Vonage a nuisance.
That's when the pressure is going to get absolutely piled on.
I am not buying at the moment as I am traveling. I am happy to hear about the patent purchases and looking forward to more good news along those lines. I also see that marketing is pushing heavily the addition of a second line, which should add significantly to the 4q numbers. Remember - I have never stated that I am in for the short haul - I am not.
Huh? What does traveling have to do with whether or not you're buying? Wouldn't the more accurate answer be, "I'm not buying any more because I've lost enough money and I have no faith this stock will ever climb above $8"? I mean, we know you bought some amount of shares at $17 and you've claimed that you bought more. What price points did you keep buying at? $12? $10? $8?
The truth hurts! No one has the joy to admit that they lost money in the stock market. I experienced that in the dotcom bust. I don't understand why people still think VG will be profitable after knowing the company's status and prospect....I'm dumbfounded actually. VG will report Tuesday Aug 1 and I guarantee you the stock will tank on their dire news....just wait and see. If the news is good, then I must not know what I'm talking about.
Seth Davis: "Look, I'm advising all my clients to get in on this, and heavy. Don't you see that you get the same stock that we picked up at 17, only now it's at 7. Now, when it was at 17, I said it was going to 30, right?"
DConnor: "Yes, you did."
Seth: "Well, it's still going there, probably even higher now. Look, this doesn't change anything except that you're going to be making more money than you did before. DConnor, I liked it at 17; I love it at 7. It's an average down for you."
DConnor: "A what?"
Seth: "It's called dollar-cost averaging. If you own a hundred shares at ten dollars, and you pick up another 100 at 5, that's a net 200 shares at 7.50 a share. Your cost basis is lower. Now, if I get you involved at 10, I take you out at 15, how many points did I make you, DConnor?"
DConnor: "Five."
Seth: "Exactly. But if I get you involved at seven and a half and I take you out at 15 that's 7 1/2 points. That's even better, isn't it?"
DConnor: "Yeah, but I, uh..."
Seth: "Wait, DConnor, DConnor, let me close the door to my office. One second. All right? I also have a bullet on it. A few days ago, Dan Dorfman on CNBC put a heavy buy recommendation on Vonage. Listen to me, off the record, I just called a broker friend of mine who works at another firm and had him pick me up 50,000 shares under my sister-in-law's name. DConnor, I'm gonna put all my kids through college with this stock. Look, I have a thousand more phone calls I have to make. I have to call every one of my clients and give 'em the same opportunity. You remember when we first spoke? I told you that thin firm only has six or seven great ideas a year? Well, DConnor, this is one of those ideas. I remember you saying something about wanting to buy a house, right?"
DConnor: "Yeah."
Seth: "Well, how'd you like to pay for it tomorrow in cash?"
DConnor: "You serious?"
Seth: "Serious as cancer."
DConnor: "Okay, all I have is... is the 50,000 from our savings account."
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Life is good. Just having one of my weekly rants. I'll be better when the new features come out. 
Until, my next rant....
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