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Why Software Stock Elastic Is Rocketing 20% Higher

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Elastic (ESTC) stock jumped more than 20% in early trading Friday, setting it up to be the latest software company to post a big rally this week. Elastic’s July quarter earnings easily beat estimates. The San Francisco-based Elastic earned an adjusted 70 cents per share from sales of $478 million for the quarter ended July 31, it said in a…

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