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Why Shares of Gogo Dropped Today

TheMotleyFool

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Shares of Gogo (NASDAQ: GOGO) sank on Thursday, down 13% at 12:45 p.m. EST. There was no company-specific news for the provider of inflight internet services, so it's likely the stock is getting caught up in the turmoil sweeping the airline industry.

The novel coronavirus outbreak that originated in China has gone global, with confirmed cases in dozens of countries. Demand for travel has taken a hit due to travel bans, event cancellations, and cautiousness on the part of consumers.

Image source: Getty Images.

Source Fool.com

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