Investors unfortunate enough to buy VG Vonage at IPO have seen their money disappear. In a less than a year, the stock is down 80% (chart). Many customers report positive experiences, and Vonage had a pretty big distribution. Alas, a cool idea does not a successful business make and it looks like VG may have to fold up shop without ever turning a profit or a positive quarter for its investors.
VG serves as a cautionary tale for someone investing in the next big thing.
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