Remember that infamous business school in Illinois known for its farcical and utterly ridiculous hypothesis that the market is efficient? We disagree. Exhibit A: nationalized mortgage lender, Fannie Mae, and no news.
Fannie Mae has been in much demand in recent days. Having risen from $0.295 to $1.08, it smashed higher today to $1.47 (~50% surge from the close) only to plunge minutes later in a linearly spectacular way that only an efficient human could execute we are sure, to $0.55 (a 50% plunge from the close)...
[4]and over the last few days... 'normal'
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