Key Highlights

  • Vivakor (NASDAQ:VIVK) changed hands at USD 0.3003 on November 10, 2026, off 20.83% from a calculated previous close of USD 0.3793, on Volume of 26.74 million shares and relative volume of 0.95.
  • A company release dated November 9, 2026 stated that the final one of four convertible notes, carrying an original Face Value near USD 15.2 million, was converted into common stock on November 6, 2026.
  • Market value was USD 482.58 thousand, trailing diluted EPS was negative USD 134,557.94 and EPS growth was negative 139.21%, numbers that reflect reverse split adjustment and a tiny Equity base.
  • Trailing twelve-month Revenue was USD 89.55 million and the net loss was USD 103.26 million, following a 1-for-15 reverse split announced on September 30, 2026.

Why Vivakor Fell on November 10 (-20.83%)

Canadian investors scanning US-listed names saw Vivakor (NASDAQ:VIVK) priced at USD 0.3003 on Tuesday, November 10, 2026, a decline of 20.83% within a screener universe of 4,625 names. A previous close near USD 0.3793 follows from the change (calculated), so each share lost roughly USD 0.0790. Volume reached 26.74 million shares with relative volume of 0.95, about USD 8.03 million of stock changing hands (calculated). Earlier that day, pre-market, the shares were indicated at USD 0.3057, off 19.4%. The only dated company item located is the release issued on November 9, 2026, which stated that four convertible notes held by J.J. Astor and Co., with an aggregate original face value near USD 15.2 million, have been fully retired. The final conversion occurred on November 6, 2026, and the release did not reveal the shares issued or the conversion price.

The Rationale: Dilution Risk, Not a Confirmed Catalyst

No published coverage links the decline to one event, so no catalyst is identified in published coverage. In general terms, note holders who convert add shares to the float, and sales of those shares can weigh on a price, especially after a reverse split. Vivakor announced a 1-for-15 reverse split on September 30, 2026. Earlier items include a USD 40 million proposed Acquisition of Direct Midstream, a letter of intent signed on October 9, 2026 and a 52 well agreement in New Mexico dated November 4, 2026 that could add more than USD 2 million in annual service revenue. Second quarter revenue grew 10% to USD 32.1 million, and management pointed to about USD 270 million of revenue for the third quarter. These earlier items are context and not causes.

Valuation, Liquidity and Risks for Vivakor

A Market Value of USD 482.58 thousand implies only about 1.6 million shares at USD 0.3003 (calculated), so a few trades can move the price and spreads can run wide. Trailing revenue of USD 89.55 million against a net loss of USD 103.26 million, and 2025 revenue of USD 104.42 million against a net loss of USD 115.32 million, point to sustained losses. Price history is also hard to reconcile: an October 23, 2026 quote showed USD 1.44 on 593,741 shares, so a live quote should be consulted for the price. Repeated reverse splits, conversions and Nasdaq listing requirements are specific risks. Nothing here implies the move will continue.

Where Things Stand

Vivakor (NASDAQ:VIVK) dropped 20.83% to USD 0.3003 on November 10, 2026 with no confirmed trigger. The retirement of about USD 15.2 million of convertible notes, announced November 9, 2026, is the closest dated item and may hint at added share supply, though no link is established. With a market value of only USD 482.58 thousand, thin liquidity and wide spreads amplify every swing.