Why Elastic Stock Tanked 15% Today

·2 min read
Why Elastic Stock Tanked 15% Today

Shares of enterprise search, cloud observability, and security outfit Elastic (NYSE: ESTC) fell 15% today. Elastic has lost 23% of its value in the last week, dragged down with the rest of the market on omicron variant fears. Elastic is spending heavily on development and marketing, but its spending is still paying off.

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