Core Viewpoint - Defiance ETFs has launched CVNX, a 2X leveraged single-stock ETF aimed at providing amplified exposure to Carvana Co. (CVNA), allowing traders to pursue enhanced upside potential without needing a margin account [1][3]. Company Overview - Carvana Co. is recognized as a leader in the digital transformation of the used-car retail industry [2]. - The company has experienced significant growth, with its stock price increasing nearly 200% over the past year and Q1 2025 revenue reaching $4.23 billion [3]. ETF Details - CVNX aims to achieve daily investment results that are two times (200%) the daily percentage change in Carvana's share price [2]. - The ETF is designed for knowledgeable investors who are prepared to actively monitor their portfolios due to the inherent risks associated with leveraged investments [4][5]. Market Context - The launch of CVNX is positioned as a tool for savvy traders to capitalize on Carvana's growth and the ongoing disruption in the automotive retail sector [3].

Market Performance - The S&P 500 lost 3.1%, the Dow Jones fell about 2.4%, and the Nasdaq Composite retreated 3.5%, marking the worst week for the S&P 500 since September 2024 [1] - The Nasdaq officially entered correction territory, defined as a 10% decline from recent highs [1] - SPDR S&P 500 ETF Trust (SPY) lost 3.4% during the week [1] Employment Data - Nonfarm payrolls increased by 151,000 in February, falling short of economists' expectations of 170,000 [2] - The unemployment rate rose to 4.1%, raising concerns about economic softening [2] Trade Policy Concerns - Market turmoil was driven by uncertainty surrounding President Trump's tariff announcements, although goods from Canada and Mexico were exempted under the USMCA until April 2 [3] - Glen Smith, CIO at GDS Wealth Management, noted that the market does not favor uncertainty and anticipates continued market volatility until trade uncertainties are resolved [4] Economic Outlook - Treasury Secretary Scott Bessent acknowledged a potential loss of economic momentum but attributed it to a transition from previous policies [5] - He reassured investors that any tariff-related price increases would be a one-time adjustment rather than a trigger for lasting inflation [5] Top-Performing ETFs - Gold Miners – MicroSectors Gold Miners 3X Leveraged ETN (GDXU) increased by 14.8%, with gold bullion ETF (GLD) gaining over 1.2% [7] - China – Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) rose by 12.1%, driven by developments in Chinese tech stocks, particularly Alibaba's AI advancements [8] - Europe – Direxion Daily FTSE Europe Bull 3x Shares (EURL) was up 10.6%, with earnings momentum shifting towards Europe and parts of Asia [9] - Homebuilding – Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) gained 5.1%, likely due to a decline in treasury bond yields [10] - Mexico – Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) increased by 4.8%, aided by the delay of auto tariffs on Mexico and Canada [12]