The EML (ASX: EML) share price is down 9% in recent days. What’s happening?

Shares in the Aussie fintech remain under pressure despite no news in recent weeks

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The EML Payments Ltd (ASX: EML) share price is under pressure this week. Shares in the Aussie payments group are falling again today and are down 9% since last Tuesday.

So, what’s influencing the company’s valuation right now, and should investors be paying attention?

Why the EML share price is down 9% in just over a week

It’s been a volatile little period for the company’s shares. They closed at $4.23 per share last Tuesday, September 7 and struggled through to Friday’s close.

The EML share price then climbed back up to $3.98 per share on Tuesday morning this week before sliding through to $3.86 per share at Wednesday’s close. In early trade today, they are down 0.52% to $3.84 — that’s a fall of 9.2% since last Tuesday.

Interestingly, there have been no new announcements from the ASX payments group in recent days. However, it often pays to look at recent updates and see if there is a hangover of sorts from investors reacting to the latest news.

The last major price-sensitive announcement from the group was its August 20 full-year results update.

In case you missed it, EML announced its FY21 results with some of the key takeaways below:

The EML share price has been broadly flat since the full-year update. Shares in the payments group are up 7.5% in the past month but a sharp drop in mid-May amid regulatory concerns in Ireland means they remain down around 27% in the past 6 months.

Tech shares have been under pressure in recent days with the ASX following the trend seen in offshore markets such as the United States. That seems to be flowing through to EML’s valuation given the lack of any market-moving news and relatively benign conditions in recent days.

Foolish takeaway

The EML share price has struggled to climb higher in 2021. Despite some bumper headline growth numbers in its August results, shares in the payments group have tumbled in recent days.

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

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Motley Fool contributor Ken Hall 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.

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