Vonage Underwriter Citi Says Hold the Stock

Vonage(VG Quote) can't get any breaks from Wall Street.

The largest provider of Internet phone service had one of the worst-performing IPOs in recent memory. Shares are down 48% since they began trading May 24.

Though some investors may see this as a buying opportunity, Citigroup analyst Michael Rollins is urging caution. He initiated coverage of the stock as a hold with a speculative-risk rating. ...