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Business

Don't look now, but has Vonage's stock price been rebounding?

 From reading pretty much every news story about Vonage out there, the word seems to be that Vonage's stock is in free fall.While I agree that the long-term prospects for Vonage surviving as a profitable, stand-alone entity are not bright, I have to wonder if some of these intrepid analysts and reporters have checked Vonage's stock price the last couple of days.
Written by Russell Shaw, Contributor on
vonagestockrebound.jpg
 

From reading pretty much every news story about Vonage out there, the word seems to be that Vonage's stock is in free fall.

While I agree that the long-term prospects for Vonage surviving as a profitable, stand-alone entity are not bright, I have to wonder if some of these intrepid analysts and reporters have checked Vonage's stock price the last couple of days.

Rather than continuing its free fall, Vonage's stock seems to be on a comeback of sorts. On Monday, Vonage's stock closed at $12.32 a share, up 34 cents (+2.48%) from Friday's $11.98 a share closing price.

And funny, when you go to Bloomberg.com and chart the last few days of Vonage's trading, you see a "V" (as in Vonage) pattern.

This makes me think I might have had a point when I blogged a couple of weeks ago that Vonage's stock price would probably hold steady in the low teens for a could of weeks- and then take some more hits.

So maybe this is just the eye of the storm? 

What do you think? 

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