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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.
MagneGas Corporation (MNGA) is soaring on Thursday on the announcement it has been awarded contracts in four demolition projects.
MagneGas (MNGA), a company that converts liquid waste into hydrogen-based fuel, soared more than 40% to a one-day high of $1.56 as of 2 p.m. on Monday. More than 16 million shares of the stock had traded hands by 2 p.m., more than 24 times its average of 657,166.
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