A giant slalom course? No. Vonage stock decline? Yes.

 While we don't usually talk about stock prices here, sometimes investor confidence (or lack thereof) can be gleaned from a read of the trends.Well, today, Vonage closed at $7.

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While we don't usually talk about stock prices here, sometimes investor confidence (or lack thereof) can be gleaned from a read of the trends.

Well, today, Vonage closed at $7.40 a share, their lowest ever, and more than half the $17-a-share IPO.

Today's year-in-advance, free-calling-to-41-world-locales SunRocket announcement didn't help. Just shows that VoIP prices are circling the drain, and absent enhanced services - and I am talking about real enterprise QoS- there may be no plausible return-on-investment model for Vonage to compete as an independent in this flea market world of consumer VoIP.

Investors are realizing this. Hell, they already have.

When the decline breached $8.50, that was one psychological barrier encountered.

And there will be more to come, until- as I repeat- a buyback. I can't guarantee a buyback and a return to private equity, but I feel it in my bones.

Do you?