Why Shares of Fannie Mae and Freddie Mac Exploded Higher Today
Shares of the government-sponsored entities (GSEs) Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC) popped today for no obvious reason. In the final half hour of trading, shares of Fannie traded nearly 26% higher and shares of Freddie traded nearly 28% higher. Part of why Fannie and Freddie can move a lot is because they are now penny stocks with millions of shares trading hands each day.