Quick Take: GoGo IPO Cools
The stock priced at the upper end of its range, near $17, after the worst day in the stock market for 2013, showing some obvious signs of early demand. Although the price has begun to slip a bit in early trading. In the last hour of trading Friday, shares were at $15.66, off $1.34, or down 7.88%.
The company has a controlling 81% of the market for wireless Internet in the air, and Small says that he believes in the long-term growth opportunity in front of them. It also has a dominate position in wireless Internet among private jets.
"The sky is the limit," he says, regarding the company's future prospects.
-- Written by Bret Kenwell in Petoskey, Mich.