Why Elastic Stock Is Crashing Today

Elastic's quarterly results actually beat Wall Street's expectations. So why is the stock cratering? Elastic (ESTC -28.19%) stock is plummeting Friday. The company's share price was down 28.7% as of 3:05 p.m. ET, according to data from S&P Global Market Intelligence. After the market closed yesterday, Elastic published results for the first quarter of its current fiscal year (which ended July 31). The enterprise search software company actually posted quarterly results that came in significantly ahead of Wa ...