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Elastic (NYSE: ESTC) experienced a significant drop in its stock price, falling 11% after its Q2 earnings report, which showed a 16% year-over-year sales increase to $423 million and adjusted earnings rising from $0.59 to $0.64 per share, surpassing analyst expectations. Despite the decline, management provided more optimistic guidance for the upcoming quarter than analysts had projected. At one point, the stock dipped as low as 16.2% before stabilizing. Overall, while the results exceeded forecasts, investor sentiment led to a sharp sell-off.
