What do you do when you see a former cult have that has been down and out forever run over 100% in a single day on function volume? That is the case here in Vonage Holdings Corporation (NYSE: VG). A closing bell review for function movers showed this digit up 170% at $1.59 on right at 37 million shares into the closing bell at 4:00 PM EST. This follows a 30% gain to $0.60 yesterday, which was already the highest closing bell price since Feb. 3, 2009…. What is interesting is that there has been no real corporate news from the company. We had seen a 100% rally in six trading days, so today’s move up looks like the volcano exploding. You can cite a dozen different possibilities, and all that has come back from traders today is “speculation” on its finances and on a deal. But as far as anything specific, that is elusive. There have been notes over brawny obligation for its new $24.99 unlimited Vonage World plan with unlimited calling to some 60 countries. It is hard to imagine that the margins are rattling high if this is used for endless hours each month. While you can never rule a merger o another care out, what do you say about companies with a mountain of losses and digit whose growth may have peaked? Still, a move of this magnitude is impossible not to verify note of even if we are getting into what is supposed to be digit of the more quiet weeks of the whole year. We’d be keeping an eye out for more news or more commentary on this digit tonight and for the rest of the week. A call into the company yielded no information yet…. Stay tuned. -JON OGG
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