Shares of Federal National Mortgage Association (FNMA) gained over 5% on Wednesday morning as President Donald Trump pursues a public offering for mortgage behemoths Fannie Mae and Freddie Mac.
FNMA is currently trading at $11.17, up $0.62 or 5.87%, on the Nadaq. The stock opened its trading at $12.31 after closing Tuesday at $10.55. The stock has traded between $1.02 and $12.40 in the past 52-week period.
Trump also said that the US government would retain guarantees and an oversight role over Fannie Mae and Freddie Mac.
"I am working on TAKING THESE AMAZING COMPANIES PUBLIC, but I want to be clear, the US Government will keep its implicit GUARANTEES, and I will stay strong in my position on overseeing them as President," Trump wrote Tuesday night in a post on his Truth Social platform.
The companies have been under government conservatorship since the 2008 financial crisis. Fannie and Freddie have both returned to steady profitability, with earnings being retained.
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