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   US corporate spending on private flights for executives has ballooned: Companies’ median spending on private flights for execs jumped 19% from 2021 to 2024, according to data provided to Sherwood News by executive intelligence firm Equilar.
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                   Presented by
                  </p>
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                   Hey Snackers,
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                  <p style="margin:0;margin-bottom:16px">
                   <strong>
                    Domino’s
                   </strong>
                   is rebranding for the first time in 13 years. The changes, which will roll out in the coming months, include a new “audio and visual expression” of the brand’s name (throwing a few extra M’s on the boxes and getting
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     country/hip-hop artist Shaboozey to elongate the letter in a jingle
                    </strong>
                   </a>
                   ); “more youthful” team uniforms; and a new “Domino’s Sans” font, which is
                   <strong>
                    “
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     thicker and doughier
                    </strong>
                   </a>
                   <strong>
                    ”
                   </strong>
                   and has circles and semicircles “in nod to pizza, with lots of personality baked right in!”
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Stocks slid from Wednesday’s highs as the S&amp;P 500 and Nasdaq 100 dipped and the Russell 2000
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     underperformed on Thursday
                    </strong>
                   </a>
                   . Gold and oil also took a tumble. Consumer staples was the only sector ETF to finish positively, with
                   <strong>
                    Pepsi
                   </strong>
                   popping on an earnings beat after international growth offset weakness in North America.
                  </p>
                  <p style="margin:0">
                   🧠 Trivia time: Test your knowledge on recent newsletters with the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Snacks Seven Quiz
                    </strong>
                   </a>
                   . Here’s a sample question:
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                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    According to The Economist’s
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Carrie Bradshaw index
                     </strong>
                    </a>
                    <strong>
                     ,”
                    </strong>
                    which US city is most affordable for single people?
                    <br/>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Check your answer.
                     </strong>
                    </a>
                   </li>
                  </ul>
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                    <strong>
                     PJS
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px;padding-top:10px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:26px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:31px">
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    US corporate spending on private flights for executives has ballooned
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   These days, Corporate America’s top executives aren’t trying to get their carry-ons gate checked. And as far as perks go, they expect a bit more than free coffee and granola bars.
                  </p>
                  <p style="margin:0">
                   Hence the steady rise of spending on
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     private and chartered flights
                    </strong>
                   </a>
                   by the US’s 500 largest companies.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Companies’ median spending on private flights for execs jumped
                    <strong>
                     19%
                    </strong>
                    from 2021 to 2024,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      according to data provided to Sherwood News
                     </strong>
                    </a>
                    by executive intelligence firm Equilar.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    It’s everywhere you look.
                    <strong>
                     Meta
                    </strong>
                    reported that last year it spent $1.5 million chartering business travel flights for CEO Mark Zuckerberg and $2.6 million on private jets for his personal use.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Tyson
                    </strong>
                    <strong>
                     Foods
                    </strong>
                    paid $2.98 million last year for the use of corporate jets for Chairman John H. Tyson’s personal travel.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Even
                    <strong>
                     Tootsie Roll
                    </strong>
                    doled out about $1.8 million for CEO Ellen Gordon to fly on its company aircraft for both business and personal uses.
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   If you factor in the change from 2020, when travel was depressed because of the pandemic,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     the jump is 66%
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:8px;padding-top:24px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   These aren’t the only execs kicking back in PJs on company dime. Per Equilar, the median private flight expense has increased in nearly all industries across Corporate America. And as The Wall Street Journal reported, at the same time that execs’ private flight perks have surged, much of Corporate America has slashed costs and laid off workers.
                  </p>
                  <p style="margin:0">
                   Meanwhile, even us regulars are getting used to the finer flights in life, with Delta reporting that
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     once its customers go Comfort+, most stick with the extra legroom for the long haul
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="10" cellspacing="0" class="button_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad">
                 <div align="center" class="alignment">
                  <a style="color:#ffffff;text-decoration:none;" target="_blank">
                   <!--[if mso]>
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<![endif]-->
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                    <span style="word-break: break-word; line-height: 36px;">
                     <strong>
                      Read more
                     </strong>
                    </span>
                   </span>
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                  </a>
                 </div>
                </td>
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             </td>
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           </tbody>
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         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-7" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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                </td>
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                <td class="pad" style="text-align:left">
                 <div align="left" class="alignment">
                  <!--[if mso]>
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                  <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 2px solid #000000; border-left: 2px solid #000000; border-radius: 7px; border-right: 2px solid #000000; border-top: 2px solid #000000; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 14px; font-weight: 400; mso-border-alt: none; padding-bottom: 5px; padding-top: 5px; padding-left: 13px; padding-right: 13px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     Presented by Surf Air Mobility
                    </strong>
                   </span>
                  </span>
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                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <strong>
                   A big shift in transportation is taking flight
                  </strong>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="image_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 <div align="center" class="alignment">
                  <div style="max-width:550px">
                   <a target="_blank">
                    <img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Ffss%252Ffvl7w8%252F7fe5ed65-ce07-4a6d-861f-6cddfa881bca%252FSHERWOOD%252B1000x800px.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NjAwOTI2NTUuOTQwNDAyM30:1v7AVD:zcwUs_RcT_wzZECCRzrdJK7hpuZT09QuBH_I1hWSl6s" style="display:block;height:auto;border:0;width:100%" title="" width="550"/>
                   </a>
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              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Surf Air Mobility (NYSE: SRFM)
                    </strong>
                   </a>
                   is building the platform for the air mobility industry by bringing together its proprietary AI-enabled software, electrified aircraft, and a nationwide flight network, targeting an estimated $100+ billion market size by 2035.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   At the center of this vision is
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     SurfOS, Surf Air Mobility’s proprietary AI-enabled software
                    </strong>
                   </a>
                   , which is being designed to be the intelligent operating system for the air mobility industry. And as the owner of one of the largest regional commuter airlines in the US, Surf Air Mobility is combining scale, operational expertise, and next-generation technology to enable the future of air mobility.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     See what Surf Air Mobility is building at surfair.com
                    </strong>
                   </a>
                   <sup>
                    1
                   </sup>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-8" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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                     <span style="word-break: break-word;">
                     </span>
                    </td>
                   </tr>
                  </table>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="button_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="text-align:left">
                 <div align="left" class="alignment">
                  <!--[if mso]>
<v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" xmlns:w="urn:schemas-microsoft-com:office:word"   style="height:20px;width:93px;v-text-anchor:middle;" arcsize="27%" fillcolor="#5869ff">
<v:stroke dashstyle="Solid" weight="2px" color="#000000"/>
<w:anchorlock/>
<v:textbox inset="0px,0px,0px,0px">
<center dir="false" style="color:#ffffff;font-family:Arial, sans-serif;font-size:14px">
<![endif]-->
                  <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 2px solid #000000; border-left: 2px solid #000000; border-radius: 7px; border-right: 2px solid #000000; border-top: 2px solid #000000; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 14px; font-weight: 400; mso-border-alt: none; padding-bottom: 2px; padding-top: 2px; padding-left: 11px; padding-right: 11px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     DEJA VOO
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px;padding-top:10px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:26px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:31px">
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    The S&amp;P 500 ETF wars are over — VOO has won out over SPY
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   The SPDR S&amp;P 500 ETF, commonly known by its ticker,
                   <strong>
                    SPY
                   </strong>
                   , is undergoing the largest annual withdrawal ever for an ETF, losing even more ground to its now dominant rival, the Vanguard S&amp;P 500 ETF, or
                   <strong>
                    VOO
                   </strong>
                   . Even before investors pulled out a record
                   <strong>
                    $32.7 billion
                   </strong>
                   so far this year, SPY had lost the crown it previously held for three decades. Now the gap has widened, with VOO counting $770 billion in assets under management, while SPY drags behind with $702 billion in AUM.
                  </p>
                  <p style="margin:0">
                   It’s not a mystery why:
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    At the heart of VOO’s rise is its cost advantage,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      charging
                     </strong>
                    </a>
                    just 0.03% in annual fees, a third of
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      SPY’s
                     </strong>
                    </a>
                    0.09%. It may not seem like a huge difference, but it adds up.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Cost-conscious,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      buy-and-hold-forever
                     </strong>
                    </a>
                    retail investors are now powering the ETF market once driven by institutions and traders chasing SPY’s
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      liquidity
                     </strong>
                    </a>
                    .
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   Meanwhile, there’s an upstart in the ETF ecosystem causing waves:
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     BlackRock’s IBIT
                    </strong>
                   </a>
                   , which is making VOO’s early growth look glacial. By the time you’re reading this, in fact, the bitcoin ETF will likely have passed the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     $100 billion in AUM mark
                    </strong>
                   </a>
                   , a feat it accomplished in well under two years.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-9" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:8px;padding-top:24px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   Retail investors today account for three-quarters of US ETF assets overall, and the ETF market itself has exploded:
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     there are now more ETFs than individual equities listed
                    </strong>
                   </a>
                   , which sounds wild when you first hear it but makes some sense, the way you can make 100 different pizzas with just a few ingredients. And if you can get basically the exact same pizza for even a few pennies cheaper, why wouldn’t you?
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="10" cellspacing="0" class="button_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 <div align="center" class="alignment">
                  <a style="color:#ffffff;text-decoration:none;" target="_blank">
                   <!--[if mso]>
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                    <span style="word-break: break-word; line-height: 36px;">
                     <strong>
                      See it all charted
                     </strong>
                    </span>
                   </span>
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                  </a>
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       </tbody>
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          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="button_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                  <!--[if mso]>
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                  <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 2px solid #000000; border-left: 2px solid #000000; border-radius: 7px; border-right: 2px solid #000000; border-top: 2px solid #000000; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 14px; font-weight: 400; mso-border-alt: none; padding-bottom: 2px; padding-top: 2px; padding-left: 11px; padding-right: 11px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     THE BEST THING WE READ TODAY
                    </strong>
                   </span>
                  </span>
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                 </div>
                </td>
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Ferrari’s electric car push loses power
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   In an event at its northern Italy HQ yesterday,
                   <strong>
                    Ferrari
                   </strong>
                   lifted the hood on its first electric car, the production-ready
                   <strong>
                    “Elettrica”
                   </strong>
                   model, and
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     the market hated it
                    </strong>
                   </a>
                   . It also announced it’s scaling back its electrification plans until 2030 to focus on its internal combustion and hybrid lineup. Even that balance seems to be shifting, as good old gas-powered cars have overtaken sales of its EVs lately.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     ICE vs. hybrids, charted
                    </strong>
                   </a>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 <div align="center" class="alignment">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
                   <tr>
                    <td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
                     <span style="word-break: break-word;">
                     </span>
                    </td>
                   </tr>
                  </table>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-11" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="button_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="text-align:left">
                 <div align="left" class="alignment">
                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     Presented by Surf Air Mobility
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <strong>
                   How Surf Air Mobility is
                  </strong>
                  <strong>
                   aiming to
                  </strong>
                  <strong>
                   transform air mobility
                  </strong>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="image_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                   <a target="_blank">
                    <img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Ffss%252Ffvl7w8%252Fb6a06347-3e44-4001-b589-1badf600def3%252FSHERWOOD%252B1000x800px%252B%25283%2529.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NjAwOTI2NTUuOTQwNTA1fQ:1v7AVD:la-WUa8s1BeJVQ-dVpr2lMso4e8_oS2ZQ6P0urUtEdA" style="display:block;height:auto;border:0;width:100%" title="" width="550"/>
                   </a>
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              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   <strong>
                    Surf Air Mobility (NYSE: SRFM)
                   </strong>
                   is developing an
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     AI-enabled software platform
                    </strong>
                   </a>
                   to accelerate and transform air mobility. By connecting underutilized airports, streamlining operations, and its SurfOS AI-enabled software, Surf Air Mobility aims to create a faster, more efficient, and more accessible way to fly.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Learn more about the company
                    </strong>
                    <strong>
                     redefining
                    </strong>
                    <strong>
                     the future of air travel
                    </strong>
                   </a>
                   <strong>
                    .
                   </strong>
                   <sup>
                    1
                   </sup>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                  </table>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-12" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="button_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="text-align:left">
                 <div align="left" class="alignment">
                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     MOVES
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px;padding-top:10px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <strong>
                   Yesterday’s Big Daily Movers
                  </strong>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Serve Robotics
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    spiked after announcing a multiyear partnership with
                    <strong>
                     DoorDash
                    </strong>
                    for deliveries
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Nvidia
                    </strong>
                    rose after reportedly receiving US government approval to
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      ship some AI chips to the UAE
                     </strong>
                    </a>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    <strong>
                     Delta
                    </strong>
                    climbed after its third-quarter earnings beat on both sales and profit and
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      it forecast a strong final quarter of 2025
                     </strong>
                    </a>
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                  <p style="margin:0">
                   Get more details on the biggest movers of the day right when the market closes:
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                    <strong>
                     subscribe to The Wrap here
                    </strong>
                   </a>
                   .
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
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              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
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                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px">
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                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    The US government is investigating
                    <strong>
                     Tesla
                    </strong>
                    over reports of Full Self-Driving
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      traffic violations
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Novo Nordisk
                    </strong>
                    is acquiring drugmaker
                    <strong>
                     Akero Therapeutics
                    </strong>
                    for
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      up to $5.2 billion
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Analysts break down what’s driving
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      SoFi’s recent surge
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Meta
                    </strong>
                    is considering making a TV app for
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Instagram’s video content
                     </strong>
                    </a>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    <strong>
                     Nvidia
                    </strong>
                    ’s Jensen Huang
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      threw some shade
                     </strong>
                    </a>
                    at the
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      OpenAI-AMD megadeal
                     </strong>
                    </a>
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
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       <tbody>
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#f6f6f6;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
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              <table border="0" cellpadding="10" cellspacing="0" class="list_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li style="Margin:0">
                    Surf Air Mobility (NYSE: SRFM) plans to transform regional air travel with AI-enabled software and electrified aircraft technology, building a smarter, more connected future of aviation.
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Learn more about the company leading
                     </strong>
                     <strong>
                      an
                     </strong>
                     <strong>
                      evolution
                     </strong>
                     <strong>
                      in
                     </strong>
                     <strong>
                      air mobility
                     </strong>
                    </a>
                    .
                    <sup>
                     1
                    </sup>
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                  <p style="margin:0">
                   Ad
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                  <p style="margin:0">
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                     An analysis of roughly 50 different products found that buyers save just 0.6% during Amazon’s Prime Big Deal Days.
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
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                   Friday
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                    Preliminary October University of Michigan Consumer Sentiment
                   </li>
                  </ul>
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                   <strong>
                    Advertiser's disclosures:
                    <br/>
                   </strong>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <sup>
                    1
                   </sup>
                   Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal. Before investing, carefully assess whether a particular stock aligns with your investment objectives, risk tolerance, and financial situation.
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