ESTC is trading 4.2% up today at $58.58 as the stock extends its rebound from last week’s post-earnings selloff and concerns regarding slowing cloud growth.
- Investors appear to be continuing the bargain-hunting trend seen on June 26, when the stock climbed 5.7% following a sharp 8.7% drop the prior day.
- The recovery is supported by broader market sentiment, with major indices trading higher by approximately 1%.