NEW YORK (TheStreet) -- Shares of in-flight Internet provider Gogo (GOGO) fell sharply after AT&T (T) announced its intention to enter the in-flight Internet space. The greater surprise is that the announcement is a surprise at all. Were investors under the impression that Gogo would remain a monopoly player forever?
Emotions ran high as investors started Tuesday's trading session in full panic mode, driving shares to a low of $13.92 as of this writing. Investment decisions based on emotion are usually wrong and usually thinking things through and allowing the dust to settle outweighs anything lost because of hesitation.
We live in a connected world that increasingly wants to remain connected 24/7. This is evidenced by Gogo's explosive revenue increase from about $35 million three years ago to over $90 million per quarter currently. The company reported a 46% revenue increase in the last quarterly filing over the same period a year ago. Of course, this much growth will catch the eye of others.
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