Freddie Mac and Fannie Mae soar after Trump win

seekingalpha11-06

krblokhinFreddie Mac (OTCQB:FMCC) stock skyrocketed 50% and Fannie Mae (OTCQB:FNMA) shares surged 35% in Wednesday morning trading after Republican and Former President Donald Trump secured enough ...

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One of this earliest decisions as the 47th president is likely naming a new head of the Federal Home Finance Agency, which oversees the two mortgage giants. In his previous administration, Trump had sought a path to release the companies from government conservatorship. That, however, didn't occur before he left office in January 2021. \"Recap and release of Fannie and Freddie can happen under Trump,\" TD Cowen's Jaret Seiberg said in a note dated Wednesday. Keep in mind, with Freddie  closing trading on Tuesday at $1.20 and Fannie closing at $1.39, it doesn't take much for the stocks to log double-digit gains. 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In his previous administration, Trump had sought a path to release the companies from government conservatorship. That, however, didn't occur before he left office in January 2021. \"Recap and release of Fannie and Freddie can happen under Trump,\" TD Cowen's Jaret Seiberg said in a note dated Wednesday. Keep in mind, with Freddie (OTCQB:FMCC) closing trading on Tuesday at $1.20 and Fannie closing at $1.39, it doesn't take much for the stocks to log double-digit gains. 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