Freddie Mac and Fannie Mae (FNM, FRE) Surging On Gov Short Restriction Speculation
By David Lipton
March 09, 2010 2:11 PM
March 09, 2010 2:11 PM
The sleeping giants that are Fannie Mae and Freddie Mac (NYSE: FNM) (NYSE: FRE) came to life this afternoon on speculation the government might restrict short selling in financials which they currently hold an interest.
Both Fannie Mae(FNM) and Freddie Mac(FRE) are currently up substantially on heavier than average volume. At around 1:15 PM both names saw a large volume spike.
Option volume in both names remained light as speculators bought up the underlying.
(FRE) 52wk Range: 0.35 - 2.50
(FNM) 52wk Range: 0.35 - 2.13
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