Least Helpful Call Today…So Far
The least helpful call from Wall Street’s Finest thus far today is most certainly the downgrade of Vonage, that Poster Child of Failed Initial Public Offerings whose stock closed at $3.00 on Friday—a rather dramatic discount to its 52-week high and IPO price of $17.25—from “Peer Perform” to “Market Perform” by one of Wall Street’s Bigs.
Stated reason for the downgrade? “Too Many Risks.”
No, I am not making that up; and yes, the morning is still young.
Nominations for even less helpful calls than that are welcome.
Jeff Matthews I Am Not Making This Up
© 2007 Jeff Matthews
The content contained in this blog represents the opinions of Mr. Matthews. Mr. Matthews also acts as an advisor and clients advised by Mr. Matthews may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Matthews’ recommendations. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
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