Stock in the internet phone company Vonage jumped a whopping 36 percent on news it will likely soon have an iPhone app.
Vonage’s stock saw its biggest three-day rally since the ailing company went public in 2006, Bloomberg reports. The rally is tied to news that Vonage has submitted an app to Apple. The app will likely be approved after a minor technical glitch is fixed.
What the app does, no one is saying, but it’ll likely rival Skype, offering low-cost VOIP calls over Wi-Fi. Vonage also offers visual voicemail.
The company is in deep trouble and is danger of being delisted from the New York Stock Exchange. It has lost about 100,000 customers in the last year as customers opt for cheap digital-phone service by cable companies.
