Vonage: A Screaming...Buy?

After the company's disastrous initial public offering, some analysts think it may just be priced low enough to deserve a look

It may sound crazy just to think it: Might it be time to buy shares in Vonage (VG)? The company has had one of the worst initial public offering in years, as concerns about mounting losses and increasing competition helped drive its stock down 30%, to $12, since the May 23 IPO (see BusinessWeek.com, 5/22/06, "Vonage On the Line"). If that wasn't enough, the company got into an ugly dispute with its customers over shares in the IPO that Vonage reserved for them (see BusinessWeek.com, 6/1/06, "Vonage to Customers: Pay Up").

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