Is Barney Fife behind the Vonage IPO or what? |
The last couple days I’ve resisted commenting on the bizarre suggestion being made that Vonage might let some customers who bought into their IPO weasel out of not paying. What? The stock market is full of inherent risks and if anybody invests in stocks thinking they are just going to cash in because its an IPO — especially from a company like Vonage which has had well documented profitability problems — think again. There is no pause, rewind, redo button when buying stock. That’s why they have this thing called the prospectus. Forgive me, I suspect readers know this, I’m just venting.
This all seemed strange to me and is being accentuated today with Vonage Not Giving Customers A Break:
“To be clear, we have not offered and are not offering to repurchase any of the shares of common stock from our customers,” Vonage said in a statement.
Well, duh, how did this ever happen to begin with? What fool suggested on Tuesday that you might even consider doing something like that? Seems like Mayberry is alive and well at Vonage headquarters. I’ve been thinking every market day since the Vonage IPO I’m grateful I didn’t buy those minimum 100 shares. If any readers did buy, sorry to hear of your loss and now you have the unenviable situation of trying to decide whether to keep fishing, hoping the stock will rebound, or cut bait and lick green wounds.
As of this writing, Vonage [symbol: VG] is currently at $12.01 with the all time low at $11.55.
Did this post make you go hmm?
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That’s ridiculously stupid. Stocks = gamble. You can’t go to Vegas and go…. Hey… I wasn’t sure about that bet, and when you hit Blackjack, so can I have my money back?
Stupid. You read the signs of the market. I was going to, but backed out when Skype pulled that fast one. And I’m glad I did. Or else I’d be licking my wounds also, but hey.. that’s the game you play. If people don’t like it, then don’t invest in stocks.
Comment by darkmoon — June 1, 2006 @ 1:45 pm PST
Your title says it all, TD. LMAO.
Comment by Sterling Camden — June 1, 2006 @ 1:54 pm PST
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