May 24, 2006
Vonage IPO is a Train Wreck
Posted by Gordon Smith

We have been talking down the Vonage IPO from the moment we heard about it. Today, the IPO is happening, and this is ugly: "Internet phone service provider Vonage Holdings Corp.'s initial public offering encountered shareholder static Wednesday morning, and appeared headed for the worst IPO debut in two years."

I am happy to report that I refrained from using the George Costanza Method of Investing and stayed on the sidelines.

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