Why are EML shares making news this week?

The EML Payments share price has dropped 52% of its value since the start of 2022.
The post Why are EML shares making news this week? appeared first on The Motley Fool Australia. –

The EML Payments Ltd (ASX: EML) share price is in the red today. EML shares are currently swapping hands at $1.53, a 3.48% fall.

For perspective, the S&P/ASX All Technology Index (ASX: XTX) is also sliding 0.8%. Block Inc (ASX: SQ2) is dropping 2.63%, while Zip Co Ltd (ASX: ZIP) shares are plunging 7.79%.

Let’s take a look at what is happening at EML Payments.

Secret presentation

EML Payments presented to 750 institutional investors at the Macquarie Australia conference in Sydney on Tuesday.

However, the media was not invited to the speech by EML Payments managing director Tom Cregan, the Australian Financial Review reported. According to the AFR, Macquarie informed the media that EML requested they did not attend.

As my Foolish colleague James reported yesterday, the EML Payments share price dropped 47% in April.

The EML share price dropped 38% on 26 April alone following the release of the company’s quarterly results.

Net profit fell 22% from the prior corresponding period. Furthermore, the company’s EBITDA (earnings before interest, tax, depreciation and amortisation) guidance for FY22 was slashed by 8% to $52 million from $55 million.

The company was also among the 10 most shorted ASX shares in the past week, although short interest has eased to 8.7%.

Share price snapshot

The EML share price has descended 73% in the past 12 months, 52% since the start of 2022.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned 3.6% in the past year.

EML has a market capitalisation of $569.5 million based on the current share price.

The post Why are EML shares making news this week? 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 over 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 January 13th 2022

More reading

These were the worst performing ASX 200 shares in April
These are the 10 most shorted ASX shares
These were the worst performing ASX 200 shares last week
Here’s why ASX 200 tech shares are having such a stellar end to the week
Why is the EML share price tumbling again today?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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.

  • This field is for validation purposes and should be left unchanged.

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
iOS & Android - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!