A month before the crash

Dear Reader,

Over the past 25 years, I've made it my mission to speak up when something feels off in the markets.

A month before the dot-com bubble burst, I published a warning essentially saying: "This can't last."

In 2008, I rang the alarm on housing calling the fall of Bear Stearns and Lehman Brothers.

I've exposed shady CEOs, market frauds, and financial bubbles before most investors saw the cracks.

Eventually, CNBC gave me a nickname I didn't ask for: "The Prophet."

But what I see happening right now... it's much bigger.

Some are even calling it, "The bubble to burst them all."

And that's why I've stepped forward in a way I never have before... to show you exactly what's coming... and how to stay on the right side of it.

Because if I'm right again – and I've put together all my proof for you – this may be your final chance to prepare.

Click here to see the full details while there's still time.

Regards,

Whitney Tilson
Editor, Stansberry's Investment Advisory


 
 
 
 
 
 

Today's Featured Content

5 Small-Cap Stocks With Impressive Growth and Upside Potential

Written by Ryan Hasson. Published 11/17/2025.

Rising stock chart.

Key Points

  • These five small-cap stocks are exhibiting strong earnings momentum, demonstrating resilience across various sectors.
  • Many trade at attractive valuations, offering potential upside for investors willing to embrace measured risk.
  • Spanning sectors such as fintech, AI, B2B e-commerce, and healthcare, each company is well-positioned to benefit from expanding markets and strategic momentum.

Small-cap stocks, loosely defined as companies with market capitalizations of up to a few billion dollars, occupy a unique and often underappreciated corner of the market. They don't always command headlines, and many display higher volatility than their large-cap counterparts. Some small-caps suit only short-term traders because of elevated risk, inconsistent fundamentals, or reliance on single catalysts.

Other small-caps, however, represent real businesses with expanding revenue, improving profitability, and a strategic long-term vision. These companies often resemble what today's industry leaders looked like in earlier stages of growth. For investors willing to accept additional risk, this segment can offer the potential for outsized returns.

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Here are five small-cap stocks that demonstrate strong momentum, strengthening fundamentals, and compelling upside potential.

DLocal: Fintech Capitalizing on Emerging Markets

Uruguay-based fintech leader DLocal (NASDAQ: DLO) has been one of the more resilient small-cap growth stories of 2025. The stock is up 27% year-to-date (YTD) as of Friday's close and continues to hold above the important $13 support zone. With a forward price-to-earnings ratio (P/E) of 16.04, DLO is moving into attractive valuation territory.

DLocal reported another standout quarter last week. Q3 revenue climbed to $282.5 million, up 52% year-over-year (YOY) and ahead of expectations, while earnings per share (EPS) of $0.17 topped estimates.

Total payment volume (TPV) surged to a record $10.4 billion, the fourth consecutive quarter with TPV growth above 50%. Net income nearly doubled, rising 93% YOY, and adjusted free cash flow reached $37.6 million, up 28%.

During the earnings call, CEO Pedro Arnt emphasized that the company's diversified payments model has remained resilient despite regional headwinds.

Although the net take rate declined to 0.99%—mainly due to softness in Egypt—Latin America, Asia, and other regions stayed robust.

For investors, the pullback may be more opportunity than warning sign. The long-term growth story remains intact, and the valuation looks increasingly compelling. Analysts maintain a Moderate Buy rating, and with shares hovering near the $13 support level, DLO stands out as a high-growth small-cap for investors with a longer horizon.

Dave Inc: A High-Growth Fintech Powering Financial Inclusion

Dave Inc. (NASDAQ: DAVE), the Los Angeles-based fintech behind the widely used Dave app, has quietly become one of the strongest-performing small-caps of 2025. The stock is up 136% YTD, driven by sustained execution and growing confidence in its consumer-focused financial platform.

Dave's mission is to provide affordable, transparent financial tools for underserved consumers who traditional banks often overlook.

Its subscription-based model helps users avoid overdraft fees, budget more effectively, and access short-term cash when needed.

Momentum accelerated after the company reported blowout Q3 earnings on Nov. 4. EPS of $4.24 crushed expectations of $2.29, while revenue of $150.8 million grew 63% YOY.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 137%, reflecting improving operational efficiency as the customer base expands. Management raised full-year revenue guidance to $544–$547 million and highlighted continued improvements in its Cache AI underwriting platform.

Technically, the stock is holding support between $180 and $200, and with a forward P/E of 18.1, Dave remains reasonably valued despite its strong run.

GigaCloud Technology: A Supply Chain Cloud Leader Scaling Globally

GigaCloud Technology (NASDAQ: GCT), a $1.1 billion China-based cloud and logistics platform, has been another standout small-cap performer this year. The stock is up 64% YTD, fueled by consistent earnings beats and growing recognition of its end-to-end supply chain platform for cross-border B2B e-commerce.

The company delivered a strong earnings beat on Nov. 6 with Q3 EPS of $0.99, topping expectations by $0.34, and revenue of $332.6 million.

Revenue grew 9.7% YOY, reinforcing demand for its platform—particularly among large furniture and bulky-goods exporters.

Even after its surge, GCT appears undervalued with a P/E of 9.14. From a technical perspective, the stock is consolidating in a multi-month range, and a breakout above $34 could fuel the next leg higher.

Pagaya Technologies: AI Underwriting Transforming Consumer Credit

Pagaya Technologies (NASDAQ: PGY), a $1.8 billion AI-driven fintech, enjoyed a remarkable year. Though the stock is currently down 46% from its recent 52-week high, shares are up 157% YTD thanks to accelerating partner adoption and continued earnings strength.

Pagaya uses AI to improve consumer credit underwriting for banks and financial institutions, helping drive better loan performance and portfolio optimization. Its platform leverages vast datasets to build predictive risk models across credit products.

Q3 earnings on Nov. 10 were another beat: revenue reached $350 million, adjusted EBITDA hit $107 million, and network volume climbed to $2.8 billion.

Management raised full-year revenue, EBITDA, and net income guidance, signaling confidence heading into 2026.

After a dramatic run from June to September, the stock has pulled back and is now near the 200-day simple moving average (SMA). With a forward P/E of 14.98 and a Moderate Buy rating, PGY could be setting up for another leg higher if it forms a higher low and confirms support between $25 and $30.

Guardian Pharmacy Services: A Scalable Leader in Long-Term Care

Guardian Pharmacy Services (NYSE: GRDN), a $1.98 billion operator of long-term care pharmacies, continues to establish itself as a standout small-cap healthcare name. Shares are up 44% YTD, supported by strong earnings, breakouts on heavy volume, and growing institutional interest.

Guardian provides medication management and pharmacy solutions to more than 8,200 long-term care facilities across 38 states.

With 53 pharmacies and a rapidly expanding national footprint, the company is scaling within a fragmented industry.

Q3 earnings results reinforced the momentum. Revenue rose 20% YOY to $377 million, EPS was $0.25, and management raised full-year revenue and EBITDA guidance. The new revenue outlook of $1.43–$1.45 billion and EBITDA guidance of $104–$106 million suggest durable growth into 2026.

The stock trades at a forward P/E of 27, a modest premium that reflects confidence in the company's trajectory. Technically, the $27–$30 range serves as key support; a firm hold above the 5-day SMA would position the stock for further continuation.

Why These Small-Cap Stocks Stand Out

Small-cap stocks carry higher risk, but they also offer fertile ground for long-term upside. The five companies highlighted above show improving fundamentals, meaningful revenue growth, and expanding market opportunities—qualities that can differentiate future winners from the crowd.

In a market where volatility remains elevated and leadership continues to rotate, selectively choosing high-quality small-caps with clear earnings power and strategic direction can be an effective way to position for the years ahead.


 
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