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August 2, 2007

The Vonage stock freefall continues, now under two bucks

news, customer adventures, finance — by TDavid @ 8:56 am PST
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Been awhile since we’ve checked in on the Vonage misery, the end of March to be more precise when the stock had dipped beneath $3. For the last four months, the stock has been moving around mostly in the $2-3 range.

Google Finance for Vonage VG stock as of August 2, 2007

We’re still using Vonage service as a backup service and main fax line in our offline business, but we ditched them for Skype over a year ago for our online business. As of this writing the 52 week low for Vonage (VG) is $1.84, although today it’s at $1.94 (down 2.51%).

Since misery loves company, a lot of people in the market the last couple weeks have lost money. This week is showing some mild signs of recovery, particularly yesterday that finished strong in the final minutes, but the gains thus far have been small compared to last week which was among the worst weeks in the last four years in the market.

In the stock competition between my wife and I, we’re both losing money overall in our portfolios: me = -5.11%, Kara = -7.92%.

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