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   Retail traders are rewriting the rules of the market. While their influence on “meme” stocks have forced institutions to take them more seriously, their impact isn’t strictly limited to what’s trending on r/WallStreetBets.
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                   Presented by
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                   Hey Snackers,
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                  <p style="margin:0;margin-bottom:16px">
                   iRobot: the “centerpiece” for Apple’s new AI strategy is… a tabletop robot that serves as a virtual companion. This new Siri is slated to have a lifelike visual personality, an approach the company code-named
                   <strong>
                    “
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Bubbles
                    </strong>
                   </a>
                   <strong>
                    ”
                   </strong>
                   — let’s hope it’s closer to a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     talking Wall-E
                    </strong>
                   </a>
                   than Microsoft’s loathed Clippy. Hopefully Bubbles will at least be able to tell us
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     what month it is
                    </strong>
                   </a>
                   .
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   A hotter-than-expected reading of July’s producer price index put stocks, and particularly small-caps, on the back foot to start the day. The S&amp;P 500 and Nasdaq 100 managed to
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     bounce back
                    </strong>
                   </a>
                   , with the former closing marginally higher and the latter fractionally lower, while the Russell 2000 fell more than 1% on the day.
                   <br/>
                   <br/>
                  </p>
                  <p style="margin:0">
                   🧠
                   <strong>
                    Trivia time
                   </strong>
                   : See how closely you’ve been paying attention to the news with our weekly
                   <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">
                    Which Big Tech CEO mentioned AI the most often on their Q2 earnings call?
                    <br/>
                    <br/>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Check your answer.
                     </strong>
                    </a>
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                 <div align="left" class="alignment">
                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     A WHOLE NEW BALL GME
                    </strong>
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    The retail trading revolution
                   </strong>
                  </a>
                 </h1>
                </td>
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                 <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">
                   Retail traders are rewriting the rules of the market. While their influence on “meme” stocks like
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     GME
                    </strong>
                   </a>
                   and
                   <strong>
                    AMC
                   </strong>
                   , and more recently the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     DORK stocks
                    </strong>
                   </a>
                   ,
                   <strong>
                   </strong>
                   have forced
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     institutions to take them more seriously
                    </strong>
                   </a>
                   , their impact isn’t strictly limited to what’s trending on r/WallStreetBets. Retail now accounts for about
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     20% of total trading volume
                    </strong>
                   </a>
                   , compared with less than 15% for hedge funds.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   In the original GameStop frenzy, traders sought out a stock that was heavily shorted by hedge funds, but in an about-face, now they’re
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     forcing institutional investors into trading
                    </strong>
                    <strong>
                     <em>
                      their
                     </em>
                    </strong>
                    <strong>
                     favorite stocks
                    </strong>
                   </a>
                   . This week, for example,
                   <strong>
                    Goldman Sachs
                   </strong>
                   strategist John Marshall told clients to buy large-cap stocks with elevated retail activity, like
                   <strong>
                    Palantir Technologies
                   </strong>
                   and
                   <strong>
                    Advanced Micro Devices
                   </strong>
                   .
                  </p>
                  <p style="margin:0">
                   Retail traders are also playing a key role in fueling a stock’s price movement at a time when every investor’s eyes are on them:
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     quarterly earnings
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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               <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">
                    Analysts from
                    <strong>
                     JPMorgan
                    </strong>
                    have identified the substantial retail activity that’s associated with massive earnings reactions (as shown in
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      this chart
                     </strong>
                    </a>
                    ).
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    But it’s not always the case that retail is contributing to (or creating) the obvious trend in response to earnings. Sometimes the crowd is buying the dip after a stock nose-dives post-earnings.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Analysts at
                    <strong>
                     Bespoke Investment Group
                    </strong>
                    noted that more and more of a stock’s overall performance is driven by
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      immediate reactions to earnings
                     </strong>
                    </a>
                    , as stocks average a one-day absolute share price change of
                    <strong>
                     7%
                    </strong>
                    after reporting.
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
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                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
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                  <p style="margin:0">
                   As institutional investors
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     shift their strategies
                    </strong>
                   </a>
                   in response to retail traders and retail traders drive
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     off-the-charts volatility
                    </strong>
                   </a>
                   with their earnings moves, it’s become less clear
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     who is a sheep and who is the shepherd
                    </strong>
                   </a>
                   in traders’ herd mentality. Retail traders are now such a market-moving force that institutional investors are chasing their trades, flipping the narrative.
                  </p>
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                  Your life is already online. Shouldn’t your protection be too?
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                    The Guild is a fictional property of Activision.
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                     This is not an offer to invest
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                    . Trademark &amp; Copyright 2025.
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                  <p style="margin:0;margin-bottom:16px">
                   Wall Street tracks earnings. But the world tracks threats. And they’re accelerating. The Guild is
                   <a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
                    <strong>
                     a new class of defense company
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                   : born in classified ops, and now going public with its mission and its ownership.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   The Guild’s IPO opens up decades of classified defense tech to the public. It’s not about betting on growth. It’s betting against collapse. Because in a world built on code and chaos, peace of mind might be the ultimate dividend.
                  </p>
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                     While others scale, we secure
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                   . While others mine your data, we defend it.
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                   Safety for you and your loved ones is
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                   .
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    “Sin City” is having one of its worst summers in years
                   </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%">
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                 <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">
                   Look, we’ve spent a lot of time in Las Vegas, and summer’s over 100-degree-in-the-shade days don’t make it our favorite time to visit, but something more than a summer slump is happening.
                   <strong>
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Data shows
                    </strong>
                   </a>
                   the number of visitors has dropped every single month in 2025, relative to 2024, with June seeing 11% fewer tourists compared to the same time a year before.
                  </p>
                  <p style="margin:0">
                   Vegas has
                   <em>
                    never
                   </em>
                   seen this level of slowdown, with the exception of the pandemic. There are a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     few reasons
                    </strong>
                   </a>
                   some people are putting their money on, such as:
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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               <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">
                    Tariffs, inflation, and economic uncertainty are holding back trips.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Vegas is just too darn expensive now, with everything from parking to food costing high-roller bucks.
                   </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%">
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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">
                   But we’re betting all our chips on a third option: why go to Sin City when you can gamble while sitting on your couch?
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Indeed, the massive rise of online sports betting,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     which we’ve charted here
                    </strong>
                   </a>
                   , shows Americans’ appetite for gambling hasn’t dampened one bit, with a peak of
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     $16.8 billion bet in a single month
                    </strong>
                   </a>
                   this year.
                  </p>
                  <p style="margin:0">
                   And if you’re a fan of
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     unlikely parlays
                    </strong>
                   </a>
                   and prop bets, well, prediction markets like
                   <strong>
                    Kalshi
                   </strong>
                   and
                   <strong>
                    Polymarket
                   </strong>
                   let you wager on who will be the next pope or if Taylor Swift and Travis Kelce will get engaged. Americans are rushing into those platforms too, with
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     a staggering amount wagered on last year’s US presidential election
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
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       </tbody>
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                  <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%">
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                  <p style="margin:0">
                   It’s not game over for Vegas, where companies like Wynn and MGM are taking a “if you can’t beat ’em, join ’em” approach with WynnBET and BetMGM, but those efforts
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     face challenges, too
                    </strong>
                   </a>
                   . Meanwhile, we think there’s another way that Americans are getting a bit more adventurous with their money:
                   <strong>
                    derivatives
                   </strong>
                   , especially a kind of option called
                   <strong>
                    0DTE
                   </strong>
                   ,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     which we dive into here
                    </strong>
                   </a>
                   .
                  </p>
                 </div>
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               </tr>
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                    <strong>
                     THE BEST THING WE READ TODAY
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    How much do analysts love Amazon’s grocery gamble? Let us count the ways
                   </strong>
                  </a>
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    :
                   </strong>
                  </a>
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                  <ol start="1" style="margin-top:0;margin-bottom:0;list-style-type:decimal">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Bank of America’s Justin Post said it was a
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      $90bn revenue opportunity
                     </strong>
                    </a>
                    <strong>
                     .”
                    </strong>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Evercore ISI’s Mark Mahaney predicts it will increase “stickiness and customer lifetime value.”
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Morgan Stanley’s Brian Nowak called groceries “the most important (and largest) remaining bucket of offline US consumer spend.”
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    JPMorgan’s Doug Anmuth thinks Amazon could raise the price of Prime by
                    <strong>
                     $20
                    </strong>
                    .
                   </li>
                  </ol>
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                     Why Ives called it the “shot heard round the warehouse”
                    </strong>
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                     The Guild
                    </strong>
                   </a>
                   isn’t one of
                   <em>
                    them
                   </em>
                   . It doesn’t sell ads. It doesn’t mine data. It sells protection to anyone who needs it. From defense contracts to civilian protection,
                   <a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
                    <strong>
                     the Guild is changing the world
                    </strong>
                   </a>
                   in the way Silicon Valley said it would.
                  </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-13" 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%">
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:25px;padding-top:25px">
                 <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>
              <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:72px;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; 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>
                     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-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: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-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: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">
                    <strong>
                     Intel
                    </strong>
                    rallied late in the day after a report emerged that the
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      US may take a stake in the chipmaker
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     TeraWulf
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      jumped
                     </strong>
                    </a>
                    almost 60% on news of AI hosting deals and Alphabet’s 8% stake in the bitcoin mining company
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Bumble
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      dropped
                     </strong>
                    </a>
                    after big shareholder Blackstone and founder Wolfe Herd moved to sell a huge chunk of the company
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     CoreWeave
                    </strong>
                    plunged
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      even further
                     </strong>
                    </a>
                    ahead of the company’s post-IPO lockup expiry
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-14" 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="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:25px;padding-top:25px">
                 <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>
              <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;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">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   What else we're Snackin'
                  </span>
                 </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 report from Reuters found that Meta’s policies permit chatbots to have some
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      pretty shocking conversations with children
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Meanwhile, the head of ChatGPT hopes “we can unequivocally endorse the product to
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      a struggling family member
                     </strong>
                    </a>
                    ”
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Big Tech is turning into
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Big Energy
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    An infamous GameStop
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      short seller
                     </strong>
                    </a>
                    is now targeting
                    <strong>
                     Palantir
                    </strong>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Foxconn says its
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Nvidia business is surging
                     </strong>
                    </a>
                    while its Apple business shrinks
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-15" 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:#f6f6f6;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-bottom:5px;padding-left:25px;padding-right:5px;padding-top:5px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" 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" style="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 style="Margin:0">
                    The next tech wave doesn’t track you, it protects you. From grid outages to rogue code,
                    <a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
                     <strong>
                      the Guild protects real people
                     </strong>
                    </a>
                    , not just investors.
                   </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%">
               <tr>
                <td class="pad" style="padding-left:10px;padding-right:10px">
                 <div style="color:#000;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:13px;font-weight:700;letter-spacing:0;line-height:1.2;text-align:right;mso-line-height-alt:16px">
                  <p style="margin:0">
                   Ad
                  </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-16" 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;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-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:25px;padding-top:25px">
                 <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-17" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-size:auto" 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-size:auto;background-color:#5869ff;border-bottom:30px solid #fff;border-left:30px solid #fff;border-radius:10px;border-right:30px solid #fff;border-top:30px solid #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;border-bottom:4px solid #5869ff;border-left:4px solid #5869ff;border-right:4px solid #5869ff;border-top:4px solid #5869ff;padding-bottom:15px;padding-left:25px;padding-right:25px;padding-top:15px;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="text-align:center;width:100%">
                 <h1 style="margin:0;color:#fff;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:center;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Snack Fact of the Day
                  </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;padding-left:40px;padding-right:40px;padding-top:10px">
                 <div style="color:#000;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:center;mso-line-height-alt:22px">
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #ffffff;">
                    <strong>
                     Americans’ self-reported drinking is at its lowest level since 1939.
                    </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-18" 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;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="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:25px;padding-top:25px">
                 <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>
              <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="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">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Friday
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-19" 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="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" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:5px">
                 <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">
                    July retail sales
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    July industrial production
                   </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%">
               <tr>
                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:11px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:left;mso-line-height-alt:13px">
                  <p style="margin:0;margin-bottom:16px">
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <strong>
                    Advertiser's disclosures:
                   </strong>
                  </p>
                  <p style="margin:0">
                   <em>
                    The Guild is a fictional property of Activision.
                   </em>
                   <strong>
                    <em>
                     This is not an offer to invest
                    </em>
                   </strong>
                   <em>
                    . Trademark &amp; Copyright 2025.
                   </em>
                  </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-20" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
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