Business
Smart money sold EML Payments in February – The Australian Financial Review
Greencape, Challenger and REST Super all rushed for the exits in the days after EML Payments’ half-year report on February 17.
The smart money in fund managers REST Super, Greencape and Challenger avoided the stink brewing from EML Payments 45 per cent fall on Wednesday by selling huge amounts of stock within days of it lodging its half-year accounts on February 17.
One potential reason for the dramatic change of heart among professional investors is that a dig through EMLs accounts shows it had a $300 million working capital or asset deficiency black hole as at December 31, 2020.
The accounts show total current assets…
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