Tuesday, January 09, 2007

Buying Vonage for the long-only portfolio

Bought ~£10,000 of Vonage stock, trading today at $6.44. http://finance.yahoo.com/q?s=vg
 
Market cap of $1bn. This to me seems low for a company that has had decent success with market penetration of internet phones. Plus I know many businesses are using their technology. Yes I've read that profits seem a long way off, but with a small market cap like this, you've got to think some of the majors have their eyes on this company, as there is plenty value in having a decent subscriber base.
 
Anyway, it's now in the long-only portfolio along with Whole Foods which I bought yesterday.

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