Vonage Offering Discounts to Existing Customers, Pushing Share Prices Down Even Further

Vonage shareholders saw the price of their shares drop even further when analyst at Pali Research downgraded the stock after discovering that the voice-over-internet phone company was offering existing customers a discount rate of $19.99 to convince them not to switch carriers. New customers are currently asked to pay $24.99. The discount seems to indicate that Vonage is having difficulty retaining customers, which doesn't bode well for the company.
And the screw turns another notch tighter.
Vonage Cut to `Sell' at Pali on New Discount Offers [Bloomberg]