Insights

When was the worst ever day on the EML (ASX:EML) share price chart?

EML’s worst day on the ASX saw its share price fall a whopping 45%.
The post When was the worst ever day on the EML (ASX:EML) share price chart? appeared first on The Motley Fool Australia. –

This year has been tough for the EML Payments Ltd (ASX: EML) share price. The payment solution provider’s shares have slipped 16.55% year to date.

2021 also brought EML’s worst day ever on the ASX. On 19 May 2021, the EML share price plunged a whopping 45.63%. The company went from sitting pretty at $5.15, to close at $2.80, in a single session.

Those along for the ride that day likely remember it well. However, if you were lucky enough to avoid the carnage, here’s a run-down of how it happened.

EML share price’s worst day ever

The EML share price’s worst day ever followed a 2-day trading halt. EML requested the trading halt after it received notice of “significant regulatory concerns” from the Central Bank of Ireland.

Then, on that fateful Wednesday morning, EML released the news that would see its value drop by nearly half.

EML announced the Central Bank of Ireland was concerned EML’s subsidiary, PFS Card Services Ireland, had failed to comply with Anti-Money Laundering and Counter Terrorism Financing frameworks and governance.

Now, the trouble actually started way back in December 2020 when, as a result of Brexit, all of the EML’s non-UK-focused operations had to move out of the nation.

As a result, control of the company’s European operations was shifted to PFS Card Services Ireland, which is regulated by the Central Bank of Ireland.

Therefore, the future of EML’s European business operations – which brought in 27% of EML’s revenue in the third quarter of financial year 2021 ­– could all have been at stake due to PFS Card Services Ireland’s failings.

EML commented on the concerns, stating:

Given the timing and early stages of discussion with the CBI, EML is presently unable to estimate the potential direct and consequential costs (including but not limited to legal costs) and impacts of the Correspondence on the Group’s consolidated FY21 results.

Has EML recovered from the drop?

Unfortunately for EML, the issues facing PFS Card Services Ireland haven’t been resolved.

However, the EML share price has gained 26% since 19 May. EML’s shares are currently trading for $3.54 a piece.

That seems to point to the market’s concerns over the possible restrictions easing. However, only time will tell if the Central Bank of Ireland’s concerns will further harm the EML share price.

The post When was the worst ever day on the EML (ASX:EML) share price chart? appeared first on The Motley Fool Australia.

Should you invest $1,000 in EML Payments right now?

Before you consider EML Payments, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and EML Payments wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why the EML (ASX:EML) share price is gaining today
What’s going on with the EML Payments (ASX:EML) share price?
ASX 200 midday update: GUD results, Woodside update, ANZ appointment

EML (ASX:EML) share price up 5% on Tuesday
The EML Payments (ASX:EML) share price is falling today. Here’s why

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!