Don't miss Tom Gardner tonight on CNBC's "On the Money," airing at 7 p.m. ET.
The market is insane, and here's your proof: The CEO of Vonage
The problem is that Vonage is a money-torching business with a moat as profound as The Simple Life. And anyone out there who thinks shareholders are better off with head honcho Jeffrey Citron taking the reins on the day-to-day ops, well, I'd say they don't remember Citron.
The CEO's resignation today looks to me like an admission that this business is doomed to fail. This stock should be down 10%. Eventually, I expect it to move a lot closer to zero.
Comments? Bring them here.
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