News Summary: Gogo IPO slumps in market debut
News Summary: Stock of in-flight Internet provider Gogo slow to connect on 1st day of trading
LOW-FLYING IPO: Gogo Inc., which provides in-flight Wi-Fi service on major U.S. airlines, had a bumpy debut on the Nasdaq stock market.
RISKY TIMING: The initial public offering of stock on Friday came right after a two-day slump market slump. The Dow Jones industrial average had dropped 560 points, making investors nervous about stocks.
GROWTH PLANS: Gogo dominates the in-flight Wi-Fi market in North America and is seeking to expand internationally but still isn't making money. First-quarter revenue grew 30 percent, but the company's loss widened to $32.5 million.
