Penny Stock Fannie Mae (FNMA) Surges in Wednesday’s Session; Company Reports Net Income Gain
Shares of Fannie Mae (OTC: FNMA), a provider of liquidity and stability in the secondary mortgage market, surged in Wednesday’s trading session.
The penny stock of FNMA ended the day 14.29% higher at $0.300, with volume up from daily average of 1.98 million 19.03 million.
Fannie Mae shares surged on Wednesday after the company reported its first net income gain since it was taken over by the government during the 2008 financial crisis. FNMA reported first-quarter earnings of $2.7 billion, compared with a loss of $6.5 billion reported for the same period in the previous year.
Fannie Mae, which has received nearly $116 billion from the Treasury Department, will pay a dividend of $2.8 billion to the government.
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Posted by Arnulfo Saucedo
on Thursday, May 10th, 2012. Filed under Internet, Stocks.
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