A little more than a year after being threatened with delisting, Vonage said on Monday it once again meets the NYSE’s standards for market cap values. Vonage’s market cap fell below the required $100 million for 30 consecutive trading days last year, pushing the VoIP provider out of compliance. Vonage’s market cap fell to $64.8 million the week of Feb. 9, 2009.
But that has changed. Thanks to improved financials, Vonage said, its market cap hit $286 million as of last Friday. And the New Jersey-based company says its outlook should just keep getting better.
“We expect to continue to launch new products and mobile applications while aggressively pursuing growth opportunities in the international long-distance market,” CEO Marc LeFar said in a prepared statement.
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January 17 2019 @ 18:50:04 UTC