Vonage Shares up 449% Since Last Thursday

Vonage Holdings Corp. (NYSE:VG) shares were below 50 Cents last week, today they are up 35% and trading above $2.15 -- its out of control.  The reason for the party could be that Vonage may finally have become a profitable enterprise.

Via StreetInsider.com -- Vonage said yesterday that it "doesn't specifically comment on short-term fluctuations in market activity."
But the company noted a couple developments that may be contributing to the excitement for the its shares:

“Three weeks ago, the company announced financial results which included record adjusted EBITDA of $31 million, positive net income for the first time in the company’s history and positive cash flow. Last week, the company launched Vonage World which provides flat rate unlimited calling to over 60 countries with unlimited readable voicemail (visual voicemail). Initial interest has been strong. Additionally, the company previously announced that it expects to enter the mobile applications market, which has garnered a great deal of attention in recent weeks and months.”

For those of you playing VG shares at home, its best to cash in some chips if you have experienced this incredible ride, come Friday you can bet traders will be banking some profits.

Vonage Shares 101

SOURCE: http://www.streetinsider.com/Insiders+Blog/Vonage+(VG)+Continues+To+Run/4902374.html