Vonage IPO disconnects users from wallets
If you're going to offer shares in an initial public offering to your customer base, pray for a first-day pop. That's the conclusion Henry Blodget reaches after watching Vonage's shares sink below their offering price of $17. Vonage reserved 14 percent of its shares for customers, but instead of creating customer loyalty, "if the stock continues tanking ... Vonage customers who love the VOIP service will feel nothing but bile toward the company," Blodget writes. (Blodget, one should note, knows a thing or two about tanking stocks from his days as an Internet analyst.)
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.