Volume Spike: Fannie & Freddie (FNM, FRE)

Posted in pre-market 
August 18th, 2008

We are seeing a huge amount of share volumke heading in and out of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) early this Monday morning.  Barron’s panned the GSE lenders over the weekend saying that a taxpayer and government bailout/recapitalization was likely to wipe out common shareholders entirely and would likely cause large losses for preferred stock and subordinated debt holders as well.

As of 8:20:

  • Fannie Mae has crossed more than 250,000 shares and shares are trading down at $7.22 after a $7.91 close on Friday.
  • Freddie Mac has crossed about 330,000 shares and shares are down at $5.37 after closing at $5.85 Friday.

Jon C. Ogg

August 18, 2008

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