🔴 Elastic is trading 4% down today as risk-off sentiment pressures growth stocks

Elastic is trading 4% down now at $95.90, with the August 31 decline appearing primarily linked to broader risk-off sentiment.

• It surged 19.31% on August 28 after upbeat fiscal 2027 guidance and strong AI-driven customer growth.
• The S&P 500 and Nasdaq Composite are each down 0.58%.
• Higher oil, Iran-related tensions, elevated yields, and hawkish Federal Reserve messaging are pressuring growth stocks.