Citron’s lemon

Vonage hope that inviting customers into its initial public offering would cement customer loyalty. Customer switching costs are essentially zero, so one can understand the internet telecom company’s motives - if the initial public offering popped, users would feel good about their choice of carrier. But it’s gone horribly wrong. Customers who bought the maximum allotment and held are now sitting on a $22,500 loss. As Vonage’s basic service costs $5 per month less than incumbent Verizon, it woul...