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[@UnicusResearch](/creator/twitter/UnicusResearch)
"🚨🚨Important Note: Tricolor+ $CVNA+ $ALLY and others. A handful of critical sources reached out to us yesterday regarding Tricolor. Our research in the auto sector over the span two years bundled with Tricolor incident leads us to deduce more bankruptcies are coming and we know from where. Our conversations with our sources to be published only to our clients. See below:"  
[X Link](https://x.com/UnicusResearch/status/1966493685870395804) [@UnicusResearch](/creator/x/UnicusResearch) 2025-09-12T13:26Z 14K followers, 20.3K engagements


"🚩Tricolor and First Brands bankruptcies are not one-off. Theyre connected signals of deteriorating collateral that can propagate into non-performing loans and broader auto ABS underperformance across the chain. Here is our analysis and insight from our sources.🧵"  
[X Link](https://x.com/UnicusResearch/status/1972814091547979788) [@UnicusResearch](/creator/x/UnicusResearch) 2025-09-30T00:01Z 13.9K followers, 68.8K engagements


"🚨Grant Thornton is for Tricolor and $CVNA as Arthur Anderson was for Enron & WorldCom. Thornton you don't SNIFF AUDIT for double pledging you actually AUDIT the pool of loans - which Thornton fashionably failed. 👉Writing a detailed report to our clients on this mess"  
[X Link](https://x.com/UnicusResearch/status/1973221176966328722) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-01T02:59Z 13.9K followers, 36.8K engagements


"Yes we reported this to our clients months ago. Mainstream media is always late to the party"  
[X Link](https://x.com/UnicusResearch/status/1976032558761877952) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-08T21:10Z 14K followers, 11.4K engagements


"GoFundMe CEO says the economy is so bad that more of his customers are crowdfunding just to pay for their groceries. We thought XX% of consumers using BNPL for groceries is nuts. Now this"  
[X Link](https://x.com/UnicusResearch/status/1978094434345423280) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-14T13:43Z 13.9K followers, 12.3K engagements


"More like breaking down of societal order. In simple terms: high level of wealth inequality"  
[X Link](https://x.com/UnicusResearch/status/1978125505862803490) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-14T15:47Z 13.9K followers, 2985 engagements


"Wait. Didnt we live through this dance few months ago"  
[X Link](https://x.com/UnicusResearch/status/1978483297291227575) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-15T15:29Z 14K followers, 3294 engagements


"THIS IS NOT A NEWS. Weve been saying this to our clients forever"  
[X Link](https://x.com/UnicusResearch/status/1978517455598207078) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-15T17:44Z 14K followers, 18K engagements


"We got hold of the Tricolor bankruptcy filing. It has XXX pages of information. After review we will publish a detailed analysis to our clients. Stay tuned"  
[X Link](https://x.com/UnicusResearch/status/1966145172275917031) [@UnicusResearch](/creator/x/UnicusResearch) 2025-09-11T14:21Z 14K followers, 6299 engagements


"🚨At the checkout lane in stop and shop we saw an elderly gentleman. He had X credit cards in front of him trying to pay for groceries. All declined. Needless to say we paid. It was $XX (Im not looking for kudos here). The BNPL stat of XX% of consumer using BNPL to pay groceries is LOW. It must be close to 40%. Consumers are broke. Cant afford groceries. Cant pay for car. This is not a way to live life. And people who are making less than $100K are pissed"  
[X Link](https://x.com/UnicusResearch/status/1970250751961075727) [@UnicusResearch](/creator/x/UnicusResearch) 2025-09-22T22:15Z 14K followers, 26.1K engagements


"The loans in the pool are non recourse; however the residual impact of the ABS deterioration will seep into the Income statement and BS. Were overlaying the financials in the ABS and triangulating the when and how much for our clients. To become our client email laks@unicusresearch.com"  
[X Link](https://x.com/UnicusResearch/status/1971242752294768954) [@UnicusResearch](/creator/x/UnicusResearch) 2025-09-25T15:57Z 14K followers, 6798 engagements


"Rite Aid store got shutdown and were getting a Dollar Tree store in Ridgefield- is all one needs to know. Per $DLTR and $DG conference calls consumers making more than $100K is preferring Dollar stores compared to others. Interesting to observe local community boards where people are literally cringing on this It has begun"  
[X Link](https://x.com/UnicusResearch/status/1971703446286782856) [@UnicusResearch](/creator/x/UnicusResearch) 2025-09-26T22:28Z 14K followers, 6064 engagements


"🚨 BREAKING: $FITB to buy $CMA for $XXXX billion in all-stock deal. When the deal closes it will create the ninth-largest U.S. bank with roughly $XXX billion in assets. The transaction is expected to finalize in the first quarter of 2026. Beautiful distraction by $FITB"  
[X Link](https://x.com/UnicusResearch/status/1975171840352858368) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-06T12:10Z 14K followers, 4027 engagements


"$KMX and $CVNA are choosing not to repo cars so they dont have to show losses.- Sources Expect unrealized losses to spike in 2H 2025. More in our latest report"  
[X Link](https://x.com/UnicusResearch/status/1975397008706871384) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-07T03:05Z 14K followers, 12.7K engagements


"Yesssss Our auto ABS liquidity overlay for $CVNA and $ALLY will be available for our clients over this week and into next week. Were expanding our ABS to banks/auto lenders. The EPS stack deterioration adds pressure the fundamentals"  
[X Link](https://x.com/UnicusResearch/status/1975695851478548824) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-07T22:52Z 14K followers, 11.6K engagements


"First Brands Tricolor auto sector and banks are intertwined. Theyre about to drop like flies- stay tuned for the 2H"  
[X Link](https://x.com/UnicusResearch/status/1975998292845789413) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-08T18:54Z 14K followers, 40.4K engagements


"Is it just us or there has been deafening silence when it comes to macro data since the shutdown As in macro data became useless overnight. Does it mean FOMC is useless too Or are we still pretending we give a flying DUCK about that Asking for a friend"  
[X Link](https://x.com/UnicusResearch/status/1976247077924634733) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-09T11:23Z 14K followers, 3189 engagements


"Yes Now is Jefferies the only go to bank for risky credits We think not. Let the silent mergers begin. like crappy CRE infested $CMA merging with $FITB who wrote down $200M from Tricolor. How the duck $FITB didnt do any audit on double pledging for so ducking long"  
[X Link](https://x.com/UnicusResearch/status/1976348303035113656) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-09T18:05Z 14K followers, 8540 engagements


"$CVNA is on borrowed time - especially after the Tricolor incident - bondholders all around are wondering whether they are holding loans that are riskier than they are being compensated for with half the collateral and that too a faster depreciating asset. Party stops when the ABS market freezes"  
[X Link](https://x.com/UnicusResearch/status/1976704125946499516) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-10T17:39Z 14K followers, 3455 engagements


"$CVNA is on a borrowed time. Party stops when the ABS market freezes. Tricolor incident had mad the bondholders wonder whether they are holding loans that are riskier than they are being compensated for. with half the collateral and that too a faster depreciating asset as collateral"  
[X Link](https://x.com/UnicusResearch/status/1976704487449370942) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-10T17:40Z 14K followers, 19.5K engagements


"Tricolor and First Brands lit the fuse to the ABS market. The ABS market will be metaphorically be nuked and that will pummel $CVNA and other lenders (banks) whore in the blast radius. It has only begun. Stay tuned. Follow our confidential insights for this"  
[X Link](https://x.com/UnicusResearch/status/1976776401123786943) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-10T22:26Z 14K followers, 50.7K engagements


"Yup that what weve been saying. But didnt Jamie boy say all is fine or something"  
[X Link](https://x.com/UnicusResearch/status/1978180874022584422) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-14T19:27Z 14K followers, 6019 engagements


"🚩 We published a bank short this AM to our clients. This bank is in the center of the ongoing mess"  
[X Link](https://x.com/UnicusResearch/status/1978456016699183448) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-15T13:40Z 14K followers, 10.3K engagements


"We have been recommending X regional banks as a short. We are about to publish one more regional bank short this month to our clients. These are hyper regional. and chances of bailout are little to none. Stay tuned"  
[X Link](https://x.com/UnicusResearch/status/1978928130355269783) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-16T20:56Z 14K followers, 9102 engagements


"🚩Tricolor and First Brands werent accidents.🧵 - Tricolor (Consumer ABS) and First Brands (Supplier ABL). Heres how it cascades: - consumer delinquencies - dealer floorplan - supplier ABL/factoring . But the problem is deeper with Tricolor"  
[X Link](https://x.com/UnicusResearch/status/1973180716449222666) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-01T00:18Z 14K followers, 20.7K engagements


"1. Tricolor incident goes deeper than anyone realizes. It is not one-off. It is a systemic (potential) fraud prevalent across the ABS sector. $CVNA $KMX and others.It would have continued forever.BUT"  
[X Link](https://x.com/UnicusResearch/status/1973180718462410938) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-01T00:18Z 14K followers, 2671 engagements


"During the months leading up to Enron's collapse almost all sell-side analysts had a "buy" rating on the company including multiple analysts from major firms like Credit Suisse First Boston Lehman Brothers JP Morgan and Salomon Smith Barney"  
[X Link](https://x.com/UnicusResearch/status/1973375124347682831) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-01T13:11Z 14K followers, 8150 engagements


"Credit rating agencies and BNPL are getting desperate and spookier:🧵 X. Sources on reporting late payments for BNPL ( $AFRM) when the consumers werent late. X. Throttling credit when there has been (OD or withdrawal) on your checking account. X. Random throttling due to their LLM monitoring and denying when asked citing technical difficulties)"  
[X Link](https://x.com/UnicusResearch/status/1973750344422142064) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-02T14:02Z 14K followers, 6646 engagements


"🚩Our 2024-P4 $CVNA ABS data reveals the quiet part: losses are accelerating OC is down XX% and August cash was mostly consumed by Priority and OC. Residuals thinning leading to FV marks and softer gain-on-sale next. We mapped the EPS drag for this trust. See below to access our $CVNA liquidity overlay on ABS"  
[X Link](https://x.com/UnicusResearch/status/1976035627427574159) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-08T21:23Z 14K followers, 28.7K engagements


"We are sure the lawyers in banks $CVNA and other auto lenders are trying to do a "quicke" auditing to make sure their "double pledging" is not going to leak. Vintages are decimating the pools. One trust at a time"  
[X Link](https://x.com/UnicusResearch/status/1976305139528167448) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-09T15:13Z 14K followers, 59.8K engagements


"🚩🚩 Shadow Banks Warning. Shadow banks are unruly unregulated untamed and uncontrollable. We have been following for years. The shadow banks are connected to the commercial banks in a twisted way. What happened to regional banks today are pre-cursor to what's to come"  
[X Link](https://x.com/UnicusResearch/status/1978967634306584624) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-16T23:33Z 14.1K followers, 17.1K engagements


"🚩All-day calls with sources who are very familiar with Tricolor. What we do know is that the collapse just cracked Pandoras box. Tricolor just put the auto sector its dealerships and banks on NOTICE. Whats coming isnt pretty. Stay tuned"  
[X Link](https://x.com/UnicusResearch/status/1966557623001452812) [@UnicusResearch](/creator/x/UnicusResearch) 2025-09-12T17:40Z 14.1K followers, 10.3K engagements


"🚩Consumers are at a breaking point. - Individual Chapter X bankruptcies are up XX% YTD (249152) - September +19% YoY. Q2 repos hit 2.42M assignment orders with recoveries stuck 2930% vs XX% pre-2019. See below:"  
[X Link](https://x.com/UnicusResearch/status/1975387171201950129) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-07T02:26Z 14.1K followers, 34.5K engagements


"All it takes is ONE. We repeat Tricolor bankruptcy will cascade into the ABS market and itll freeze. First Brands will co to us to drag other banks with it. The show has begun"  
[X Link](https://x.com/UnicusResearch/status/1977763406410100952) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-13T15:48Z 14.1K followers, 67.9K engagements


"🚩🚩Blackstone ( $BX ) is about to unload garbage assets on an uninformed public. Get ready retail investors if you are not careful/alert you will become everyone's EXIT liquidity"  
[X Link](https://x.com/UnicusResearch/status/1978478288407306675) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-15T15:09Z 14.1K followers, 60.6K engagements


"🚩The First Brands collapse and its unspoken impact on the Auto Parts. We published our thoughts interviews with ex First Brands executives and the invisible impacts on the Auto supply chain. See below:"  
[X Link](https://x.com/UnicusResearch/status/1979181810547355961) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-17T13:44Z 14.1K followers, 23.9K engagements


"Im a mom of a X yo so I dont mind repeating the same statement multiple times like this: First Brands and Tricolor bankruptcies are NOT isolated events"  
[X Link](https://x.com/UnicusResearch/status/1979248081024475453) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-17T18:08Z 14.1K followers, 54.2K engagements


"Tricolor and FirstBrands are not isolated. Heres another one"  
[X Link](https://x.com/UnicusResearch/status/1979282975935389867) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-17T20:26Z 14.1K followers, 20.1K engagements


"🚩Our research has been focused on Auto Lender ABS and Dealership implosions. We have been recommending these as a short to our clients. We are adamant in saying that Tricolor First Brands and now PrimaLend are NOT isolated. It is SYSTEMIC it is HERE. Our write up is below:"  
[X Link](https://x.com/UnicusResearch/status/1979287231266242764) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-17T20:43Z 14.1K followers, 36.9K engagements


"1. The Off-Balance Sheet Trap: When ABS Losses Come Home: X. The First Brands Collapse: X. ABS Meets ABL: How First Brands Off-Balance-Sheet Receivables Unraveled into a Free-Fall Chapter 11: X. VINs Clawbacks Chaos: Inside Tricolors Freefall - I:"  
[X Link](https://x.com/UnicusResearch/status/1979287233317474630) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-17T20:43Z 14.1K followers, 5493 engagements


"Please DO NOT go around and tell "consumers are OK" It is insulting to the consumers who are suffering financially. All LENDERS are "greedy" until they are exposed"  
[X Link](https://x.com/UnicusResearch/status/1979517808619770133) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-18T11:59Z 14.1K followers, 7548 engagements


"Weve been working with our in-house forensic investigator on First Brands and Tricolor. As weve been saying these are NOT isolated incidents. Watch these two bankruptcies take down series of banks with them"  
[X Link](https://x.com/UnicusResearch/status/1975678996965728766) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-07T21:45Z 14.1K followers, 33.8K engagements


"As we said earlier it is not about First Brands or Tricolor it is much worse. The odds of these firms recovering the collateral/cash is almost NIL. The management is in the center. We know. Tricolor: $1.1B disappeared. First Brands: $XXX B disappeared. Yes this is NOT good. This is VERY bad"  
[X Link](https://x.com/UnicusResearch/status/1976193613454319961) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-09T07:50Z 14.1K followers, 116.4K engagements


"1. X of First Bank's top XX creditors are foreign-domiciled entities controlled by Patrick James. Why would Patrick James be a CEO and yet use front companies that may have benefited him (We know)"  
[X Link](https://x.com/UnicusResearch/status/1976737311367823748) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-10T19:51Z 14.1K followers, XXX engagements


"2. The current Secretary of Commerce Howard Lutnick and Cantor Fitzgerald are owed over $XXX million from a company with XXX separate subsidiaries though some say XXX and what was their due diligence Wait there is more"  
[X Link](https://x.com/UnicusResearch/status/1976737312949014865) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-10T19:51Z 14.1K followers, XXX engagements


"Weekends at Unicus Research has been busy (especially over the past few month). - Tricolor collapse - Interviews with sources - First Brands Collapse. - Interview with FBG's former executives. Publishing the report to our clients. See below.for why we care about this"  
[X Link](https://x.com/UnicusResearch/status/1977105621825781964) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-11T20:14Z 14.1K followers, 5848 engagements


"Here is why we care about FBG and Tricolor: It is not isolated and we are mapping what are in their blast radius. Here is a sample HIT LIST - Regional Banks and its ABS - Pvt. Credit - Auto ABS - Dealerships and its ABS - Auto Parts - OEMs - IBs. To become our client email laks@unicusresearch.com"  
[X Link](https://x.com/UnicusResearch/status/1977105623763267750) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-11T20:14Z 14.1K followers, 2036 engagements


"🚩For the first time since early September downgrades outnumbered upgrades (8 vs. 6). 🚩Corporate defaults: First Brands Group (auto D after a Chapter XX filing) and Office Properties Income Trust (REIT SD after missed interest). See below for details"  
[X Link](https://x.com/UnicusResearch/status/1978116558116241598) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-14T15:11Z 14.1K followers, 8798 engagements


"Yes this is what weve been saying. They do sample audit and cherry pick the loans. Thats not auditing thats signing off without any kind of due diligence. If they were to do a proper audit of all loans guess what they might find Double pledging hell triple pledging if CVNA is creative. Weve analyzed the $CVNA ABS. Its a cesspool"  
[X Link](https://x.com/UnicusResearch/status/1979244378523918457) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-17T17:53Z 14.1K followers, 37K engagements


"To our knowledge its not possible to do audit on the pools without knowing the VIN for every loan in the pool. Hence only auditors can have access to VIN documents (due to privacy laws)"  
[X Link](https://x.com/UnicusResearch/status/1979253401251615079) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-17T18:29Z 14.1K followers, 5174 engagements


"We freaking know this would happen. Theres no way theyll let garnishment happen. But guess what IT DOES NOT MATTER. Reporting student loans defaulters to credit agencies is causing consumer credit scores to drop XXX pts causing them to lose access to credit. So this doesnt not HELP"  
[X Link](https://x.com/UnicusResearch/status/1980017116460744711) [@UnicusResearch](/creator/x/UnicusResearch) 2025-10-19T21:04Z 14.1K followers, 2037 engagements