🔴 Elastic is trading 5% down in pre-market as AI disruption fears weigh on software shares

Elastic is trading at $101.40 (-4.86%) in pre-market on October 29, 2026, as software shares fall on AI disruption concerns following disappointing reports from ServiceNow and Fortinet.

• Reuters reported software shares tumbled pre-market as investors worried about AI disruption. Elastic also slipped in after-hours trading on October 28 amid weaker software sentiment.
• No company-specific catalyst was identified; available evidence points to sector pressure rather than a new Elastic announcement.