EML +22.15%: the payments tech company surged higher today after finally drawing a line in the sand with their PCSIL business which has been weighing on performance for some time. EML has brought in liquidators for the struggling unit, battling with regulators, client remediation and an outflow of expertise over the last few years. The company paid $423m for the PCSIL brand back in 2019 but lately has been grappling with numerous issues, bringing in liquidators to salvage the business which is costing ~$20m a year to run. By turning the page on a disappointing part of the business, EML can get back to focusing on what it does well and return to growing the business.
MM remains long and bullish EML
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