Market News / Story
VIVK Stock Rockets Today: Retail Eyes Over 12X Upside After Vivakor Unveils Proposed Direct Midstream Deal
Stocktwits ·
Stocktwits reports: Shares of Vivakor (VIVK) traded over 25% higher on Friday after the energy transportation and remediation company announced plans to expand its operations in the Permian Basin by acquiring Direct Midstream. VIVK stock had climbed over 80% after the opening bell but pared most of the gains at the time of writing. VIVK’s Permian Expansion Plans Vivakor values Direct Midstream at $40 million, four times its expected 2027 annual free cash flow of $10 million. The company…