The free app offers prepaid access to discounted international phone calls. Unlike eBay's
This is a huge concession, especially for AT&T
Vonage has been here before. The stock opened 44% higher last month, after announcing the approval of its App Store application. The company quickly gave a lot of that gain back, though, when it failed to elaborate on what its app would do.
This morning's news is a surprise. Marked-down international calling may not appeal to many iPhone and BlackBerry owners, but this is just the first of Vonage's mobile applications. Future apps could possibly turn to domestic calling or provide enhanced features for existing Vonage customers.
Vonage still has a way to go before it's profitable on an annual basis, but this formerly moribund dud of an investment now has all the shine of a story stock.