Internet-calling company Vonage (VG) announced that Apple (AAPL) has approved its mobile application for iPhone and iPod Touch. Vonage said it is currently conducting a beta test and general availability will be announced at a later date.
Shares of Vonage are up 225% in the month of August. All the company has done is announce a cheap international calling plan and an iPhone application recently. Although the company posted its first-ever quarterly net profit for the recent second quarter, revenue fell as the Internet calling company lost subscribers.
Analysts say the run-up in prices is because of speculation that the company could be an acquisition target.
Another positive is that the company may also be the beneficiary of future Federal Communications Commission rules that may make it easier for Web-calling companies to offer services on mobile phones. This could broaden the horizons for a company like Vonage in an untapped market.
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