Shares of Freddie Mac and Fannie Mae jumped more than 20% on Monday after billionaire investor Bill Ackman called the two mortgage finance companies "stupidly cheap" over the weekend.
Ackman said on X that the trade offered "asymmetry at its best" and argued the stocks could rise 10-fold, helping fuel the move in both companies' common shares.
At 10:16 am ET, Fannie Mae shares rose 25.51% to $6.10, while Freddie Mac climbed 21.69% to $5.30.
https://breakingthenews.net/Article/Freddie-Mac-Fannie-Mae-rally-on-Ackman-call/65978673
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