The less-than-ideal fundamentals of Snap Inc. (SNAP), Meta Materials Inc. (MMAT), and SAI.TECH Global Corporation (SAI) have increased the likelihood of negative surprises during the earnings season that could cement their notoriety for volatility.
Although March’s Producer Price Index (PPI) declined 0.5% from the prior month, registering its largest drop since April 2020, and the Consumer Price Index data has also indicated the cumulative effectiveness of interest-rate hikes by the Federal Reserve, analysts expect profits at S&P 500 companies to have declined 4.8% in the first quarter of 2023 from the year-earlier period.
