April 24th, 2007
Vonage stock spiking now: I think this portends favorable ruling in patent dispute
Just about 15 minutes ago, Vonage's stock price spiked 30%.
This after holding steady for several days.
I've been at this a long time. 30% swings don't happen in a vacuum. Investors hate uncertainty. This means that word may have gotten back from the courtroom that today's two hours of testimony was heard by a Judge who seemed to go along with Vonage's arguments.
Financial analysts are good at reading faces, you know. Even judge's faces.
My best guess is that after the market closes a little less than two hours from now, it will be announced that Vonage has been granted a permanent stay that will allow it to sign up new customers for the duration of the patent dispute appeals process with Verizon.
Russell Shaw is an enterprise computing journalist, analyst and author based in Portland, Oregon. See his full profile and disclosure of his industry affiliations.
