Ackman Chases 1,200% Profit on Trump Trade That’s Far From Over
- Privatizing Fannie, Freddie would be boon for shareholders
- But experts warn unwinding government stake is not a done deal
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Two months after the US election, the most spectacular of all Trump trades isn’t Bitcoin, Tesla Inc. or any other likely suspects. Rather, it’s shares of a stodgy, 87-year-old company many on Wall Street had forgotten about long ago.
The Federal National Mortgage Association, the government-backed home loan giant better known as Fannie Mae, has soared 227% since Trump’s election. And it’s done so in large part due to the promotion of one man: Bill Ackman.