Fannie and Freddie are leftovers from the 2008 meltdown. They have used the bailout of the banks and prop up the markets. Unfortunately during this market crash, there is nothing that the fed or government can do to keep the whole market from dropping. FMCC was contingent on the Trump administration getting them out of conservatorship. Focus has shifted and this is pretty much on the back burner. This is gapping down hard this morning and could go further if it breaks the 1.50 target I see it bottoming out at .94
I thought the same about the breakdown until I saw Thrursday's and Friday's action. I think we have a selling climax here and on to retest the $2 area.