NEW YORK, July 25, 2026, 12:09 EDT — U.S. markets have finished trading for the day.
- Vivakor shares finished Friday at $2.91, a 37.3% increase, then edged down to $2.72 in after-hours trading.
- The initial estimate indicates yearly crude transactions announced exceed $1.09 billion.
- In the first quarter, the supply-and-trading gross margin reached 0.078%, highlighting the significance of every basis point.
Shares of Vivakor Inc. NASDAQ:VIVK surged 37.3% on Friday, finishing the session at $2.91 with close to 106.67 million shares changing hands. The stock declined 6.5% in after-hours trading.
Vivakor projects that the addition of two crude initiatives will generate $384 million in yearly commercial activity. With this increase, the company’s reported physical crude platform is projected to exceed $1.09 billion. These numbers are early estimates provided by the company and reflect prevailing market prices.
The $1.09 billion represents commercial transactions, not an earnings projection. Vivakor stated its trading arm books just a small fraction as gross profit.
First-quarter figures highlight the disparity. Supply and trading posted $13.55 million in revenue, but gross profit totaled just $10,581. That translates to a margin around 0.078%, or 7.8 basis points.
Vivakor reported total first-quarter revenue of $19.46 million and posted a net loss of $4.58 million.
If the segment rate in the first quarter is applied, $1.09 billion would automatically yield approximately $851,000 in gross profit. This example is for illustration and does not represent guidance from the company.
| Gross profit from $1.09 billion activity | Estimated yearly gross profit |
|---|---|
| 0.078% — segment rate for first quarter | $0.85 million |
| 0.10% | $1.09 million |
| 0.25% | $2.73 million |
| 0.50% | $5.45 million |
| 1.00% | $10.90 million |
The sensitivity is based on Vivakor’s reported activity number. Final outcomes will be affected by commodity prices, market spreads, delivered volumes, and transaction conditions.
The initiatives include 400,000 barrels monthly at both Cushing and Midland, set to run between August 1, 2026 and July 31, 2027.
Chief Executive James Ballengee said, “Surpassing $1 billion of announced annualized commercial activity marks an important milestone.” Barchart.com
Trading volumes were also high in proportion to Vivakor’s total shares. After a reverse split on July 17, the company’s outstanding shares stood at around 667,200. Following this, two debt conversions on July 21 increased the count by an additional 65,000 shares.
Compared with the estimated base of 732,200 shares, Friday’s volume was approximately 146 times greater. Over the five-session span, cumulative volume was almost 380 times the estimated base. Though individual shares may change hands more than once, the figures highlight unusually high turnover.
Vivakor finished 28.8% higher compared to its July 17 close. The stock sharply reversed on Tuesday, hitting a session high of $9.63 before ending the day at $2.58, roughly 73% lower than its peak.
Capital structure continues to play a key role. According to a July filing, $15 million in note principal was issued, potentially raising as much as $12 million in gross proceeds. The document also referenced a $100 million equity line, where most purchases take place at prices lower than current market rates.
Two key balance-sheet events are set for next week. A lender payment of $454,796.89 is scheduled for July 31. On the same day, Vivakor and Olenox Industries Inc. (NASDAQ:OLOX) plan to finalize a proposed $36 million sale of midstream assets in Oklahoma.
The asset deal is still pending due diligence, necessary third-party consents, and final agreements. The revised crude programs are set to launch on August 1.
Risks: Vivakor’s first-quarter report flagged significant uncertainty over its ongoing viability, citing a $54 million working-capital shortfall. Shifts in commodity prices, narrow trading spreads, and potential future share offerings could alter its situation considerably.
