Fannie Mae (FNMA)

[HoldenWalker99]

Ackman's latest comments imply that the common shares could be worth ~$21. $150 billion warrant value / 7.2 billion shares = $20.83

$47 was an estimate from 2015 (!!!) which included 10 years of retained earning, half of those years now in the past tense.

Negligent lack of due diligence circulating that estimate.

Just basing off of Ackmans initial estimate. I also think there may be a conversion offering from commons to CSS which will add even greater value when/if Fannie/Freddie/FHFA take that business public.

Without any CSS/CSP conversion opportunity I could see a buyout offer being in the 80-125 range maybe?