Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

You are wrong. The 79.9% is owned by the Treasury. The shares that will be sold will be new shares issued by the GSEs (not the Treasury), which will therefore be dilutive to the 20.1% that is owned by existing $FNMA holders (reducing the 20.1% significantly more, likely to sub-5% ownership).

Forward Split creates even more shares and lowers the price. $FNMA needs a Reverse Split and a higher price -- for instance, a 10:1 Reverse Split would force $FNMA holders to trade in 10 shares and get 1 back and then $FNMA trades at $30.