Fannie Mae-No Politics (FNMA)

[LuLeVan]

"But once announced a plan to release the GSEs, Commons will be $10 in 5 seconds"

My guess is that the shares will be suspended from trading first, and only then will the release announcement be made. All actions - such as warrant exercise and/or SPS conversion and reverse split - will take place during the period when the shares are suspended from trading. So there is no chance that the shares can "price in" anything.