Gogo shares rally on a website Rumor


The power of the internet raises Gogo shares.

Gogo Inc (GOGO) share are rallying today thanks to a website called Runway Girl Network.  Credible?  With a name like that? Shit our site name sounds more professional.

Gogo shares got as high as $18.07 today.  The rumor is that Verizon (VZ) wants to buy Gogo and both companies have made ZERO statements.  

Verizon "might be studying a potential joint venture, acquisition or partnership," according to a report from Runway Girl Network. Such a move would compete against AT&T (T) which announced early plans to offer in-flight Wi-Fi services in April.

Short interest in Gogo is around 22% and part of the reason why shares took off after the rumor.