Vonage (Symbol VG) had its debut on the markets yesterday and promptly lost nearly 15% of its value.
I’ll let market analysts and other folks (like Mark Evans) sort out the implications for the access independent VoIP market, what it means for internet stocks, the root of Vonage’s problems and all else that is ailing in the world.
It just seems to me that when a company has its stock jump from $10 to $50 on opening day, that the company got ripped off and the brokers’ friends stole made money that should rightfully have been in the company treasury. If the stock pops, I think it means the underwriters undervalued the company.
The fact that Vonage stock went down means that the company maximized its return. That should stimulate some debate – our lines are open and your comments are welcome.
We’ll be hearing Vonage founder Jeff Citron delivering the opening keynote at The Canadian Telecom Summit on June 12.