Freddie FRE Stock Hits Bottom

Blain Reinkensmeyer
Posted on Mon 8th Sep, 2008 02:00:34 PM

Freddie (FRE) and Fannie (FNM) as of yesterday will now be both 79.9% controlled by the United States Government. Markets internationally rallied immensely around the news with Japan, China, France, Britain, and Germany all jumping over 3%.

Whether or not this means the US market will see a long term bottom is any investor’s guess. Here is a look at Freddie Mac’s Journey from over $60 a share to today’s price of under $1 a share:

The Dow Jones opened up over 300 points this morning but has since given back over half its gains. The Nasdaq Composite is red overall on the day. Will this be enough to help reverse a prolonged housing and credit crisis?

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More on this topic (What's this?)
How the Once-Respected Fannie Mae and Freddie Mac Helped Fuel the U.S. Real Estate Bubble (Money Morning, 7/30/09)
He's Shown Me (Financial Armageddon, 9/3/09)
No Denying This Reality (Financial Armageddon, 8/17/09)
Read more on Freddie Mac at Wikinvest

3 Responses

  1. 1
    Brandon - September 8th, 2008 at 4:51 pm

    craziness

  2. 2
    Matt - September 9th, 2008 at 2:59 pm

    I don’t think so, more downside yet to be seen.

  3. 3
    MininfOilGasGuru - September 9th, 2008 at 10:51 pm

    Almost an unbelievable graph…
    I highly doubt it…but i’ve got my fingers crossed!

    MiningOilGasGuru

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