Michael Burry Takes Aim at Another Trump-Era Trade
Michael Burry, the investor made famous by The Big Short, says the charts of Fannie Mae and Freddie Mac now point to worthless stock. Less than a year ago, he disclosed sizable stakes in both mortgage giants. The two companies back a large share of US home loans and have been under government control since the 2008 crisis. Their shares soared after Donald Trumps 2024 election win on bets he would set them free. Sponsored Sponsored How Far Fannie and Freddie Shares Have Fallen Fannie Mae closed at $1.39 on Election Day 2024, according to Yahoo Finance data. It peaked at $15.31 on September 11, 2025, and closed Friday at $4.04. Federal National Mortgage Association (FNMA) Stock Performance. Source: Yahoo Finance That is a 74% drop from the top, erasing about 80% of the post-election rally. Freddie Mac followed the same path, from $1.20 to $14.15 and back to $3.68. In a Sunday newsletter post, Burry said both stocks had formed a head-and-shoulders top, a chart shape traders read as the end of a rally. “What that chart predicts, technically, is worthless stock,” Burry wrote. Sponsored Sponsored Burry said he made a move in both stocks this week. The direction of that trade sits behind his paywall. In December 2025, he told









