Boingo Drops In Post IPO Trading

Southern California's latest technology IPO did not fare well in the markets Wednesday, as Boingo Wireless closed at $12.10, down 10.37 percent in trading for its first day. The firm, which debuted at $13.50, had priced at the higher end of its estimated trading range Tuesday. Boingo operates a international network of wireless (WiFi) hotspots, which subscribers can access using a single billing plan and login software.