Bulletin
Investor Alert

New York Markets Close in:

Market Pulse Archives

June 23, 2021, 11:47 a.m. EDT

Fannie Mae and Freddie Mac shares dive after Supreme Court ruling

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Fannie Mae (FNMA)
  • X
    Freddie Mac (FMCC)
  • X
    Fannie Mae 7.625% Non-Cum. Pfd. Series R (FNMAJ)

or Cancel Already have a watchlist? Log In

By Steve Goldstein

Shares of Fannie Mae and Freddie Mac collapsed on Wednesday after the Supreme Court dismissed a challenge from shareholders over the sweep of profits to the Treasury . The high court ruled that as the Federal Housing Finance Agency acts as a conservator, it may aim to rehabilitate the companies in a way that serves the public and not the companies' best interest. The Supreme Court did agree that the structure of the agency violates the separation of powers and didn't rule out some form of compensation for shareholders. Over-the-counter shares of Fannie Mae /zigman2/quotes/208846331/delayed FNMA -2.68% fell 32% and Freddie Mac /zigman2/quotes/202741363/delayed FMCC -2.63% shares lost 28%. One preferred class of Fannie Mae /zigman2/quotes/205222428/delayed FNMAJ +0.58% shares lost 61%.

/zigman2/quotes/208846331/delayed
US : U.S.: OTC
$ 1.27
-0.04 -2.68%
Volume: 2.77M
July 29, 2021 1:25p
P/E Ratio
130.93
Dividend Yield
N/A
Market Cap
$1.51 billion
Rev. per Employee
$14.21M
loading...
/zigman2/quotes/202741363/delayed
US : U.S.: OTC
$ 1.11
-0.03 -2.63%
Volume: 2.98M
July 29, 2021 1:25p
P/E Ratio
5.67
Dividend Yield
N/A
Market Cap
$741.07 million
Rev. per Employee
$9.94M
loading...
/zigman2/quotes/205222428/delayed
US : U.S.: OTC
$ 1.74
+0.01 +0.58%
Volume: 5,445
July 29, 2021 1:07p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.