Why Shares of Gogo Jumped 10% Today
Shares of inflight broadband provider Gogo (NASDAQ: GOGO) rose as much as 12% on Wednesday after the CEO of Delta Air Lines said his company will soon offer free WiFi on flights. Gogo is Delta's partner in the effort, and the rollout would mean more business for the company.
Gogo has flown through the typical turbulence associated with growing tech companies in recent years, with investors weighing the substantial potential of the business with results that haven't always met expectations. Gogo's core business providing inflight connectivity has been hampered by airlines attempting to monetize the service, at times limiting demand, and the technical hurdles that come with a massive rollout.
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Source Fool.com
