Freddie Mac and Fannie Mae Rocked by Liquidity Concerns
Money Morning (July 10th, 2008) Writes:
By Jennifer Yousfi
Managing Editor
Investor worry over the solvency of U.S. mortgage-giants Freddie Mac (FRE) and Fannie Mae (FNM) have gutted the stocks over the last few days more than halving their market capitalizations.
News of a possible government-sponsored bailout sent Freddie Mac and Fannie Mae shares plunging yesterday (Thursday) dangerously close to new 52-week lows.
Freddie Mac shares sank $2.15 yesterday, a 20% decline to close at $8.11. Freddie Mac is down 76% year-to-date as of Thursday’s close.
Fannie Mae stock had a similar fate, shedding $1.95, an almost 13% to decline to close at $13.36. Fannie Mae shares are down nearly 67% year-to-date.
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Tags for this Post:
Current Market News, Fannie Mae, Few Days, Financial, Fnm, Fre, Freddie Mac, Giants, global economy, Investor, Investors Profit, Liquidity, Managing Editor, Money Moves, Mortgage, Seismic Shift, Solvency, stocks, Stocks to Watch, Worry
Current Market News, Fannie Mae, Few Days, Financial, Fnm, Fre, Freddie Mac, Giants, global economy, Investor, Investors Profit, Liquidity, Managing Editor, Money Moves, Mortgage, Seismic Shift, Solvency, stocks, Stocks to Watch, Worry


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