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Investors Go Crazy Over Lucas Energy

Lucas Energy, Inc. (NYSE: LEI) shares traded higher by 500 percent at one point on Thursday after beginning the day below $2 per share.

In a press release, the company said it has signed a purchase agreement for undeveloped properties from 21 different entities, including two blocks of land in the Mid-Continent region.

The issue, which has traded a combined 30k for the first three days of the week, has traded 7 million shares with over four hours remaining in the session.

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