Today, a waste management stock,
MagneGas Corp (NASDAQ: MNGA)
is featured as today’s top momentum gainer to watch since it gained over
43% in the last two consecutive trading days with huge trading volumes.
MNGA was among the top gainers in the U.S industrial sector yesterday,
after gaining 50.7% and closed at $1.01 while recording significant volumes
of 1.45 million shares. During the past 5-trading sessions, MNGA surged
over 129.5% with 5-day average volumes of 520,870 shares, while the stock
accumulated over 110% during the past month with daily average volume of
152,481 shares. The stock skyrocketed after MNGA reported that its Italian
Distributor, Nuova MagneGas Italia has signed a contract with the Italian
National Alternative Energy Laboratory to perform various tests on MNGA’s
fuels, including the gasification of various feed stocks and certification
of internal combustion engine operation.
Company Description:
MagneGas Corp (NASDAQ: MNGA) provides services in cleaning and converting
contaminated waste. The company recycles city sludge, animal manure, and
other liquid waste materials into a clean burning biogas that can be used
to operate machinery designed to use natural gas or used for a metal cutting
fuel.
1-Year Stock Chart:
Source: Bloomberg
