The Vonage Surge Continues (VG)

Posted in General 
August 26th, 2009

Vonage Holdings Corporation (NYSE: VG) is seeing yet another surge.   UPDATE at 9:33 AM EST: shares are now up 41% at $2.25 and we have now seen over 12 million shares hit the tape….. News is below.

UPDATE AT 8:50 AM EST: Shares have started to back off at least a bit from this morning’s zeal…. we have seen 2.9 million shares trade hands, but the stock is now “only” up 39% at $2.22 rather than up over 50%… stay tuned.

8:10 AM EST… While the company is entering the mobile apps market, the news here is still elusive.  This was yesterday’s biggest mystery mover as shares rose over 100% when waves and waves day traders and momentum traders jumped on board.  Pre-market indications at 8:10 AM EST have this stock up at a 52-week high.  So far we have shares up 50% at $2.40 on 1.16 million shares.  Average volume is 1.7 million shares, but that number was blown away yesterday.  Expect this to be another exponential volume trading day for Vonage.

-JON OGG

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