Elon’s Out. Trump’s DOGE Payouts
Keep Flowing (Up to $32K a Year)

Trump just blasted Musk on national TV — saying he’s “lost his mind” — even hinting he might sell the red Tesla Musk once gave him.

The feud is exploding.

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This isn’t a one-time gimmick. These payouts keep coming quarter after quarter — adding up to as much as $32,000 a year in extra income.

Trump vs. Musk drama won’t stop DOGE payouts — and the next round is already scheduled.

Claim your spot now before the next checks hit.

To your wealth,

Jason Williams
Investment Director, The Wealth Advisory

P.S. DOGE payouts are already moving. Every 90 days, billions flow out — whether you’ve claimed your share or not. Don’t miss your chance. Click here for the full details.

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Monday’s Featured Article

Buyer Beware: Carvana Is Driving an Auto Lending Crisis

Written by Jordan Chussler. Published 11/19/2025. 

Key Points

• Online used vehicle retailer Carvana is having a strong year with a 62% YTD gain, but after hitting its ATH, shares may be nearing a correction. 
• The company reported mixed results when it announced Q3 earnings, posting a miss on EPS and a beat on revenue.
• Despite CVNA’s 510% gain since the end of 2023, questions linger about the company’s turnaround after shares fell 99% between 2021 and 2022.

2025 has not been kind to consumer discretionary stocks. Among the 11 S&P 500 sectors, consumer discretionary has posted the fourth-worst year-to-date (YTD) performance. Over the past month, its 2.43% loss has been exceeded only by the communication services (2.84% loss) and materials (2.77% loss) sectors. 

Despite the broad sector downturn, a few companies have stood out—most notably Tempe, Arizona-based Carvana (NYSE: CVNA). Shares of the online-only used-vehicle retailer are up nearly 62% YTD. 

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That said, Carvana has a history of dramatic swings. From August 2021 to December 2022, for example, CVNA shares plunged roughly 99% from their then-all-time high. 

Given that history and recent signs of financial strain, investors should take a closer look under the hood before jumping in.

Carvana’s Lending Practices Are Under Scrutiny

Carvana hit its all-time closing high of $395.41 on Oct. 1, but the stock has since corrected, giving back more than 18%. Some of the decline followed the company’s mixed Q3 earnings released on Oct. 29. 

The company reported earnings per share (EPS) of $1.03 versus expectations of $1.29—a 26-cent miss. It did, however, beat on revenue, which rose 54.5% year-over-year to $5.65 billion versus the $5.04 billion analysts expected. 

Analysts expect Carvana’s earnings to grow an impressive 78.25% next year, from $2.85 to $5.08 per share, and the average 12-month price target implies potential upside of more than 28%. 

Still, the company’s lending practices raise concerns—especially when examining its financing qualifications. Carvana reports a 99% approval rate regardless of credit score, and its minimum income requirement is just $10,000 per year. 

For context, in 2025 the U.S. federal poverty level (FPL) for a one-person household in the 48 contiguous states is $15,650. That means Carvana is approving Americans earning as much as 36% below the FPL for auto loans with APRs as high as 27.99%. 

The Hindenburg Report Made Matters Worse

A recent report from Hindenburg Research found that more than 44% of the loans Carvana originates are classified as nonprime (credit scores 601–660), and more than 80% of those fall into the deep subprime category. 

Because the stock has gained more than 510% since the end of 2023, many investors assume solvency issues are behind the company. But Hindenburg’s findings—based on four months of document review and 49 interviews with industry experts, former Carvana employees, competitors and related parties—argue otherwise, calling the company’s turnaround a “mirage.” 

The report highlights major headwinds, including used-vehicle prices that are down roughly 20% over the past three years and record-high delinquencies in subprime auto loans. 

Hindenburg also found that about 26% of Carvana’s gross profit comes from selling its customers’ auto loans to third parties, largely in the risky subprime and deep subprime space—an arrangement that, the report argues, amplifies solvency risk. 

Carvana’s Concerning Financials Are a Symptom of Its Lending Practices

While Carvana has beaten analyst EPS expectations in nine of the last 12 quarters, several red flags appear in its financial statements. At the end of 2024, the company’s balance sheet showed total assets of $8.484 billion and total liabilities and shareholders’ equity of $8.484 billion.

More recently, net income fell from $216 million in Q1 to $151 million in Q3—a roughly 30% decline—while issuance of debt rose by about 30%, from $613 million in Q1 to $977 million in Q3. 

Valuation metrics reflect elevated risk: the stock’s forward price-to-earnings ratio is about 114.96 and its forward price-to-book ratio is 50.64. 

Market participants have noticed. Current short interest is 5.94% of the float, and institutional ownership is below 57%. 

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Today’s Featured Content: Bankrupt to billionaire after retirement? (From Brownstone Research)