Why Gogo Stock Skyrocketed 68.7% On Friday

Gogo stock surged 68.7% on Friday despite missing earnings expectations across the board. The rally was driven by the company's 10-year renewal of its 800 MHz spectrum license from the FCC and a debt refinancing extending loan maturity to October 2030. However, the author cautions that the core business is shrinking as customers migrate to satellite services, and the short-squeeze-driven spike may fade quickly.