Fannie Mae-No Politics (FNMA)

[Wise Man]

The warrant affects the share price since day 1, because the UST is deemed to beneficially own a 79.9% stake under SEC rules regardless of being exercised.
That's why FnF report earnings on a diluted basis and why the lawsuit brought by Washington Federal is so important.
Other theme is that it's a collateral for the SPS, thus, it won't be exercised, but the market isn't aware of this fact due to all the brainwashing by the plaintiffs, the authorities and the accessories that write on internet message boards.