Vonage Holdings (VG-NYSE) may have found something to save itself from impending suits: a sale. But before you believe it, you better read the article from LightReading.com:
"Our sources confirm Sprint and Vonage have been in talks about the patent issue, and one source says Vonage is considering selling itself to Sprint."
Now keep in mind that this is also noted inside the article as "Skeptical" by unnamed analysts. Because of the fact that Vonage has been the pig of the year, has been Dr. Pangloss facing the Spanish Inquisition, and because the company is facing a mountain that it might not have enough rope to climb, we are not going to comment on this. If Vonage was a baseball card, its stock ticker would have been PR-FR.
Shares are up 13% at roughly $3.70 after hours as speculators are out making their bets on this. Once again, you’ll have to decide how likely this one is on your own because of how toxic the stock has been and because there has been far more money made betting against it and by being skeptical. Also remember that many would likely hold out for higher prices because they are buried as Long & Wrong.
Jon C. Ogg
April 16, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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