Shares of Fannie Mae (FNMA) and Freddie Mac (FMCC) are moving higher after President Trump over the weekend posted a picture on social media of an alleged initial public offering on the New York Stock Exchange of a company called “The Great American Mortgage Corporation.” The post followed reporting last week that the Trump administration is weighing an IPO of the government sponsored entries. Fannie Mae shares are up 9% to $10.85 in premarket trading while Freddie Mac is up 10% to $8.75.
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