This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MagneGas (MNGA) Continues Surge After Demolition Project Announcement (Update)

Update (4:55 p.m.): Updated with Friday market close information.

NEW YORK (TheStreet) -- MagneGas Corporation (MNGA) continued its surge from Thursday after the company, which converts liquid waste into hydrogen-based fuel, announced it had received contracts for four demolition projects through existing distributors Blue Water Industrial of Michigan and AWISCO Corp of New York.

MagneGas will provide its fuel for torch cutting in the four projects, which include the demolition of a power plant in New York, a bridge in Washington, D.C. bridge and two automobile manufacturing facilities in Ohio and Michigan.

"We are very pleased to be the preferred fuel for cutting on these demolition jobs," said MagneGas Executive Vice President of Sales Terry Vernille in a statement. "With the help of two major distributors, Blue Water Industrial and AWISCO Corp, we have the capability of providing our fuel for these key projects. As word continues spreading in the demolition industry about our superior cutting fuel we expect an increased demand around the country."

Must Read: Why dELIA*s Inc (DLIA) Is Tumbling on Friday

The stock surged 59.33% to $2.39 at the close of the trading day.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

MNGA Chart

MNGA data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
MNGA $0.98 1.40%
AAPL $112.25 -0.59%
FB $91.10 1.50%
GOOG $629.57 -1.30%
TSLA $249.73 2.80%

Markets

Chart of I:DJI
DOW 16,582.08 -72.69 -0.44%
S&P 500 1,984.96 -2.70 -0.14%
NASDAQ 4,805.98 -6.7280 -0.14%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs