Why Elastic N.V. Plunged More Than 11% Today
Shares of Elastic N.V. (NYSE: ESTC) fell 11.8% as of 3:39 p.m. ET Thursday, amid another tough day for high-multiple technology-growth stocks.
Yet Elastic fell even harder than others, as it announced a slew of management changes to its C-suite. With uncertainty rising over the path and speed of interest rates, more uncertainty in terms of Elastic's management team was enough to bring out the sellers.
Image source: Getty Images.
Source Fool.com
