Tech Stocks Are Down Big, but This Fool's Still Avoiding Gogo, Inc.

By Brian Stoffel – Apr 22, 2014 at 9:35AM

NASDAQ: GOGO

Gogo

Market Cap

$1B

Today's Change

(2.83%) $0.23

Current Price

$8.55

Price as of April 23, 2024, 11:00 a.m. ET

With tech stocks down, you can finally buy quality companies, but Gogo's growth prospects are too hard to nail down.

There's no question that tech stocks have had a rough couple of weeks. Between mid-March and mid-April, the Nasdaq Composite Index fell just a shade under 10%. While that's painful enough for investors, some stocks took the hits to the chin harder than others.

While looking for deals in the area, Motley Fool contributor Brian Stoffel considered buying shares of Gogo, Inc. (GOGO 2.83%), the only pure play on Internet connectivity for airlines and their passengers. Shares of the company are trading a full 50% below their year-long highs.

While Brian concluded that Gogo represented a solid business with a stable future, he's not going to be buying shares anytime soon. To find out why, check out the video below.

Source: Gogo.

Brian Stoffel has no position in any stocks mentioned,and neither does The Motley Fool. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.