Fannie and Freddie stock prices are soaring today, but still down for the year. Here’s why

Shares of mortgage giants Fannie Mae (FNMA) and Freddie Mac (FMCC) saw huge price surges early Monday after hedge fund manager Bill Ackman posted about the two stocks on social media. “Some of the highest quality businesses in the world are trading at extremely cheap prices. Ignore the MSM. One of the most one-sided wars in history that will end well for the U.S. and the world. And we have the potential for a large peace dividend. One of the best times in a long time to buy quality. Ignore the bears,” Ackman wrote in a Sunday night post on X. “And Fannie and Freddie are stupidly cheap. Asymmetry at its best. They could be a 10X and it could happen soon.” It was that last part that sent Fannie Mae and Freddie Mac stocks to the moon, naturally.  As of around noon ET on Monday, Fannie Mae shares were up more than 35%, trading at more than $6.50. Shares were trading at $4.86 on Friday, and even with the Ackman-backed boost, are still down almost 40% year-to-date. Similarly, Freddie Ma