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Vivakor Inc - VIVK STOCK NEWS

Welcome to our dedicated news page for Vivakor (Ticker: VIVK), a resource for investors and traders seeking the latest updates and insights on Vivakor.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Vivakor's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Vivakor's position in the market.

News
Vivakor Reports 111% Revenue Growth to $59.3 Million Revenue for 2023
Rhea-AI Summary

Vivakor reported a significant 111% revenue growth to $59.3 million for the year 2023. Gross profit increased by 75% to $5.0 million with a gross margin of 8.5%. Operating loss decreased by 72% to $6.3 million. Adjusted EBITDA saw a remarkable 122% increase to $0.5 million. Net loss decreased by 45% to $10.7 million. The company signed definitive merger agreements with Empire Diversified Energy and Endeavor Entities, foreseeing a combined enterprise value of $370 million.

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Vivakor Signs Definitive Agreement to Acquire Endeavor Entities for $120 Million
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Vivakor, Inc. (NASDAQ:VIVK) announces the acquisition of Endeavor Entities, targeting oil logistics and storage, with minimum revenue contracts. The $120 million deal includes cash and stock, with additional contingent consideration based on 2024 EBITDA. The acquisition aims to create synergies, streamline operations, and enhance cash flow, expected to close by June 30, 2024.
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Rhea-AI Sentiment
End-of-Day
-6.75%
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acquisition
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Vivakor Signs Definitive Merger Agreement with Empire Diversified Energy for a Combined Enterprise Value of Approximately $250 Million
Rhea-AI Summary
Vivakor, Inc. announces a merger agreement with Empire Diversified Energy, Inc. to accelerate revenue growth and expand clean energy technologies. The deal involves acquiring Empire's outstanding shares for 67.2 million Vivakor common stock shares. The merger is expected to close by September 30, 2024, pending stockholder approval and other conditions.
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Rhea-AI Sentiment
End-of-Day
-35.6%
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acquisition
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Vivakor Achieves Milestone for its RPC in Houston, Texas
Rhea-AI Summary
Vivakor, Inc. (Nasdaq: VIVK) has completed the factory acceptance tests for its Remediation Processing Center (RPC) in Houston, Texas, marking a significant milestone in moving towards commercial operation. The company is now working on obtaining permits and access to power for the site, with expectations to process 700 to 900 tons of raw material a day and produce 600 to 800 barrels of crude oil on average. Vivakor's goal is to recover and recycle embedded oil in waste generated by the oil industry, reducing the need for new oil drilling and preventing waste from ending up in landfills. The company's patented RPC processing technology has shown promising results in treating soil with Total Petroleum Hydrocarbons measured well within the accepted range.
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End-of-Day
-2.93%
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Vivakor Reports 39% Revenue Growth to $16.3 Million Revenue for Third Quarter 2023
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Vivakor, Inc. (NASDAQ:VIVK) announced financial and operational results for the three and nine months ended September 30, 2023. Key highlights include a 39% increase in revenue to $16.3 million for the three months, and a 286% increase to $45.4 million for the nine months. Gross profit increased by 28% for the three months and 253% for the nine months, with a gross margin of 9.5% and 9.4% respectively. Operating loss decreased by 37% for the three months and 23% for the nine months. Adjusted EBITDA increased by approximately 1,065% for the three months and 211% for the nine months. Net loss decreased by 59% for the three months and 3% for the nine months. Total assets stand at $76.1 million. Vivakor's Chairman and CEO, James Ballengee, expressed satisfaction with the performance of their operating assets in Colorado City, Texas and Delhi, Louisiana, attributing their solid growth and margins to strong demand and opportunities.
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Rhea-AI Sentiment
End-of-Day
4.36%
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Vivakor Announces Results of Special Meeting of Shareholders with All Proposals Approved with Greater than 90% Voted For Each Proposal
Rhea-AI Summary
Vivakor, Inc. (Nasdaq:VIVK) announced that all its proposals were approved at the Special Meeting of Shareholders, with Chairman and CEO James Ballengee accepting stock issuances at $1.08 and $1.42 per share, which are 42% and 87% above the current market price, respectively. Ballengee expressed confidence in the company's future and his commitment by accepting 100% of his annual salary in Vivakor common stock.
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Rhea-AI Sentiment
End-of-Day
2.63%
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Vivakor Issues Shareholder Update
Rhea-AI Summary
Vivakor, Inc. reports revenue of $29.1 million and operating loss of $2.0 million for the first half of 2023. The company achieved better than expected revenues from its gathering centers and has executed on several strategic growth opportunities. The Remediation Processing Center (RPC) soil extraction technology has successfully reduced oil content in contaminated soil to as little as 0.02% and received a Category A approval from Kuwait Oil Company. The company has borrowed $1.9 million USD to move RPC II to Kuwait for the Kuwait Environmental Remediation Project. The RPCs have been financed via Special Purpose Vehicles (SPVs) and management plans to continue this type of financing. The RPC Houston project is nearing completion and will offer a full-service remediation center for tank bottom sludge. The company anticipates receiving permits to operate the facility soon.
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Rhea-AI Sentiment
End-of-Day
-0.56%
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Vivakor Reports $13.6 Million Revenue for Second Quarter 2023
Rhea-AI Summary
Vivakor, Inc. announces financial results for Q2 2023, with revenue increasing to $13.6 million and operating loss decreasing by 77%. Net loss decreased by 62% to $1.8 million. Cash balance is $2.6 million. For the six months ended June 30, 2023, revenue increased to $29.1 million and operating loss decreased by 64% to $2.0 million. Net loss decreased by 20% to $4.4 million. Positive business developments include plans to connect crude oil storage tank to major pipeline systems and relocation of Remediation Processing Center 2 to Kuwait.
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Rhea-AI Sentiment
End-of-Day
-2.69%
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Vivakor Reports $15.5 Million Revenue for First Quarter 2023
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Rhea-AI Sentiment
End-of-Day
0.85%
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earnings
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Vivakor Relocating RPC #2 from Vernal, Utah to Kuwait
Rhea-AI Summary
Vivakor, Inc. announces the relocation of its Remediation Processing Center 2 from Utah to Kuwait. The company has secured $1.95 million in loan financing and expects to generate revenue from its operations in 2024 based on successful pilot results.
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Rhea-AI Sentiment
End-of-Day
-2.27%
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Stock VIVK logo
Vivakor Inc

Nasdaq:VIVK

VIVK Rankings

#4892 Ranked by Market Cap
N/A Ranked by Stock Gains
N/A Ranked by Dividends

VIVK Stock Data

23.60M
11.05M
58.47%
12.31%
1.11%
Hazardous Waste Treatment and Disposal
Administrative and Support and Waste Management and Remediation Services
Link
United States
Lehi

About VIVK

vivakor inc is a company based out of 2590 holiday rd ste 100, coralville, iowa, united states.