Vonage shares are down significantly following the company's IPO, dropping by a total of 23.5 per cent in the first two days of trading.

It's shouldn’t be too much of a concern for Vonage, as the company already has cashed in its $531m. But it looks like future sales aren't an option any time soon.

25 May 2006

It furthermore appears that Vonage's spam campaign to lure in subscribers didn't result in any material demand for the stock either.

For a company that sells an intermediary technology that everybody knows will be gone in a few years, Vonage makes for a lousy investment. For a company that charges for a product that Skype gives away for free, Vonage makes for a lousy investment. For a company that was founded by a convicted criminal, Vonage makes for a louse investment.

Buy lottery tickets instead. At least they benefit some charities.

Tags: Vonage, IPO, voip