Trump taps Pulte for a top intelligence job. This makes an IPO for Fannie and Freddie look even more unlikely.
Regulation
Trump tapping Bill Pulte — chair of Fannie Mae and Freddie Mac — for acting DNI removes a key privatization advocate from overseeing the GSEs, materially dimming near-term IPO prospects. Both stocks were already trading on IPO optionality premium, so losing that catalyst is a direct derating event.
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↓ SHORT-15% target+7% stop1-3 weeks
Short FNMA and FMCC — Pulte departure guts the IPO catalyst that was the primary bull thesis, and both stocks are trading rich on now-deflated optionality.