Why Gogo Stock Skyrocketed Today

Shares of Gogo (NASDAQ: GOGO) soared 37.6% on Tuesday after the provider of broadband connectivity services for the aviation market boosted its long-term financial forecast.

The air travel industry is recovering from its coronavirus-related plunge -- and Gogo is poised to benefit. Management now sees revenue rising by 15% annually from 2020 to 2025. That's up from a previous revenue expansion estimate of at least 10%.

"Growth in private air travel continues to expand, fueling what we expect will be sustained growth in demand for inflight connectivity as customers seek to replicate their home and office connectivity in the air," CEO Oakleigh Thorne said in a press release.

Source Fool.com