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They just said they are going to re-IPO via two of the world's largest banks and Commons are barely holding on to $2.
Even if all the wonderful FNMA Fantasies happen, the market now understands there's still too much uncertainty with Commons and their final share count to fairly value them.
As mentioned before, FNMA may even be overvalued at its current price
Mine shows the same. Near Low of Day rather than High of Day.
The FNMA Facts can't be ignored!
Makes you wonder if JPM and MS will advise the GSEs to have the Treasury Convert their Sr. Preferreds to Commons. They can then re-IPO the Treasury's shares (maximizes Treasury's investments), eliminates the SPS on the GSE's balance sheets (which is huge), and then the NWS excess dividends go back to the GSEs ($125B).
This is an instant Recap scenario, which makes everyone's job that much easier and may also be the failsafe scenario assuming Trump loses in November.
No wonder the Market is starting to understand that FNMA Commons may actually be over-valued at their current price.
#NoBuenoAmigos
Highly likely. Sell the Pop, FNMA Always Drops.
This one definitely needs to be stickied. So many FNMA Facts and absolute destruction of the Common Nonsense and FNMA Fantasies that permeate here.
Bravo!
He probably means Jr. Preferreds since he needs them to play ball and settle the lawsuits.
I'm assuming he also wants them to Convert to Commons since that's $33B less capital that the GSEs will need to raise that will immediately count towards CET1.
Calabria is a genius!!
Only law firms that accept FNMA shares as Collateral will take the case. That says something in itself.
A fool and his money are soon parted.
Aren't Conversions and Reverse Splits illegal?
I'm sure some FNMA folks would file lawsuits. Several have already said they would.
We'll be finding out very soon about that!
How long before this gets un-stickied and proven false?
6-12 Months would be my (FNMA) guess.
Sticky please! FNMA Facts matter.
The Warrants were guaranteed, but now with JPM and MS being announced, the possibility of the Sr. Preferreds also being Converted to Commons becomes an even bigger possibility.
Looks like the Crooks will loot F&F for all their worth
This is probably not good for FNMA Commons. Anything JP Morgan / Jamie Dimon touches will only benefit Wall Street and Hedge Funds.
Thankfully Jr. Preferreds are in great company in that regard. The Hedge Funds mostly own JPS
We can re-initiate the Commons' Cancellation Clock if Biden gets elected.
Thankfully Jr. Preferreds have Contract Rights and can keep fighting in Court. FNMA Commons don't have that luxury
Start the Clock! T-minus 6 months and 8 days.
Bove knows his FNMA Stock!
"Bove believes investors should sell the common shares that currently exist but buy the preferred shares."
Will Bove's article cause a sell-off in FNMA today?
"Bove believes investors should sell the common shares that currently exist but buy the preferred shares."
The Great Rotation from Commons to Jr. Preferreds continues!!
https://www.valuewalk.com/2020/06/fannie-mae-freddie-mac-stock/
Have you followed Perry's case in Lamberth's Court?
Yeah, that one
LMAO! The only Government Buyout of Commons would be with the Washington Federal plaintiffs. No other Commons need to be bought out.
Settle with JPS, Settle with Washington Federal, and let FNMA Commons to languish in never-ending Conservatorship while the GSEs issue an entirely new set of Common stock.
Anyone who bought post-Conversatorship could very well be hung out to dry. Unless those shares have Contract Rights, like Jr. Preferreds
These guys love to cause more delays. Great job Fisher/Reid! They're trying to hijack Fairholme's case with their ridiculous claims.
Now we wait another year before any movement in Sweeney's Court.
$FNMA Sub-$1 likely by end of year.
Disagree. Everything works just fine the way things are now. Why do they need to change the companies at all?
Thankfully Jr. Preferreds have Contract Rights which will be considered by Judge Lamberth likely later this year.
Everyone wins, except Commons.
Don't forget the Warrants and the Sr. Preferreds. Those are critical factors in any share count calculations and cannot be ignored. Unless of course we're using Fantasy Math
And falling fast! Who's selling so much FNMA?
The Judges won't be helping FNMA Commons. See this post for why:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=156184040
It's becoming obvious JPS will control Commons' future.
Assuming JPS settle with the FHFA/Treasury, no rulings will ever occur (except for possibly Washington Federal, which only encompasses pre-Conservatorship FNMA).
This means if JPS settle, they entirely control the outcome and future price for Commons
Commons see $1 again before they see $5. The odds suggest this is nearly a 100% probability.
Sadly, the dilution risk is too high for most to consider anything other than a Gambling position in Commons. Hence, FNMA is just a trading stock for the foreseeable future.
And those are just the FNMA Facts
A Reverse Split solves that problem. Poof! And just like that, 40B becomes 4B outstanding
Did you know almost half of claims that Sweeney denied are Derivative Claims? :-O
Those are scary FNMA Facts!
Is Pershing Square's Claims next to get Denied by Sweeney? How detrimental will that be to Ackman having a seat at the Negotiating Table?
It's starting to look like JPS will control Commons' future.
Assuming JPS settle with the FHFA/Treasury, no rulings will ever occur (except for possibly Washington Federal, which only encompasses pre-Conservatorship shareholders).
This means if JPS settle, they entirely control the outcome for FNMA Commons
It's coming amigos!!
False, it's Sweeney's Ruling.
USCFC dismisses #GSE Owl Creek and Appaloosa direct claims in near cut-n-paste from Arrowood decision 3 weeks ago for lack of standinghttps://t.co/m2pD52OCYHhttps://t.co/k8UpdwdGfL
— Richard Mackie, CFA (@presvnconsv) June 8, 2020
So much for ever challenging the FNMA Warrants
Yikes! Is FNMA headed to the Gray Sheets??
Monday might be a bloodbath
FNMA Gap Fill incoming! Sell the Pop, she's about to Drop.