Rochester,NY 9/1/2009 11:26:09 PM
Vonage Holdings Corporation VG, Shares Take a Wild Ride
Vonage Holdings Corporation
The Web-calling company's stock nearly tripled last week as investors bet that potential acquirers are closer to making a play.
In the midst of a summer rally for tech stocks, the runup experienced by Vonage Holdings stands out by any measure.
Shares of the Internet-calling company gained nearly 200% the week of Aug. 24, and that's after a 31% drop on Aug. 28, when the shares closed at 1.37. Between Aug. 12 and Aug. 26, the stock rose more than 470%. Vonage (VG) shares have enjoyed a 373% rally so far in August, a month when the Nasdaq composite index has gained just 2.5%.
While some analysts still see bankruptcy as a possibility, many observers believe CIT will be able to avoid that fate through a combination of debt-for-equity swaps and asset sales.
CIT's shares, which have run up in recent days in concert with other highly distressed financial names like AIG (AIG Quote), Freddie Mac (FRE Quote) and Fannie Mae (FNM Quote), were more than 6% lower in premarket trading Tuesday.
About Stock Einstein
StockEinstein uses proprietary technologies coupled with years of experience to uncover stocks we feel have the greatest potential for breakout performance. We utilize not only software, but time tested criteria to uncover these potential winners. When these benchmarks are reached or exceeded, our subscribers are immediately notified.
This service is free and available only to subscribers. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
Disclaimer: Full disclaimer at http://StockEinsteain.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither StockEinsteain, nor any of its affiliates are registered investment advisors or broker dealers.
