Fannie and Freddie stock prices are soaring today, but still down for the year. Here’s why |
Fannie and Freddie stock prices are soaring today, but still down for the year. Here’s why
Even after Monday’s surge, both stocks remain sharply lower year-to-date, raising questions about the rally.
[Photo: Al Drago/Bloomberg via Getty Images]
Shares of mortgage giants Fannie Mae (FNMA) and Freddie Mac (FMCC) saw huge price surges early Monday after hedge fund manager Bill Ackman posted about the two stocks on social media.
“Some of the highest quality businesses in the world are trading at extremely cheap prices. Ignore the MSM. One of the most one-sided wars in history that will end well for the U.S. and the world. And we have the potential for a large peace dividend. One of the best times in a long time to buy quality. Ignore the bears,”........