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Vonage IPO Turns Ugly

Stock quotes in this article: VG , CMCSA , VZ , EBAY  

Updated from 11:24 a.m.

The Vonage (VG Quote) IPO got off to a rocky start Wednesday, with shares falling 12% in heavy trading.

The Holmdel, N.J., Net calling shop priced its initial public offering late Tuesday at $17 a share, raising some $531 million. But Vonage tanked soon after Wednesday morning's opening, dropping as low as $14.49 on the New York Stock Exchange with 27 million shares changing hands. Early Wednesday afternoon, the stock was down $2 at $15. ...

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