Fannie Mae and Freddie Mac stocks have retraced essentially all their gains since Trump's election and formed a large head-and-shoulders top.

Judge as of 2026-10-11 for Fannie Mae (FNMA) and Freddie Mac (FMCC). 'Gains since Trump's election' means from the close on 2024-11-05 to the peak reached afterwards. 'Essentially all retraced' means the price on or just before 2026-10-11 was at or below roughly 10–15% of that gain above the 2024-11-05 close (or below that close). The second part is a large head-and-shoulders top, judged as recognisable on price charts: a left shoulder, a higher head and a lower right shoulder, followed by a break below the neckline. TRUE: both stocks meet the retracement test and the charts show a recognisable head-and-shoulders pattern. MOSTLY TRUE: both stocks retraced most of their gains (roughly 80–85%+), or the chart pattern is debatable, but the retracement substantially holds. MIXED: only one of the two stocks meets the retracement test. MOSTLY FALSE: both stocks retraced only about half to 80% of their gains. FALSE: both stocks kept most of their post-election gains as of 2026-10-11.

Set before the research began.

1. E1 Michael Burry Takes Aim at Another Trump-Era Trade Yahoo Finance (article by Lockridge Okoth, originally BeInCrypto) · 11 October 2026

   “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.”

2. E2 Michael Burry Takes Aim at Another Trump-Era Trade Yahoo Finance (article by Lockridge Okoth, originally BeInCrypto) · 11 October 2026

   “Freddie Mac followed the same path, from $1.20 to $14.15 and back to $3.68.”

3. E3 Michael Burry Takes Aim at Another Trump-Era Trade Yahoo Finance (article by Lockridge Okoth, originally BeInCrypto) · 11 October 2026

   “That is a 74% drop from the top, erasing about 80% of the post-election rally.”

According to E1, Fannie Mae closed at $1.39 on Election Day 2024, peaked at $15.31 and closed at $4.04 just before 2026-10-11. That erases about 81% of the gain and leaves about 19% of it, which E3 also puts at roughly 80%. E2 shows Freddie Mac followed the same path, from $1.20 to $14.15 and back to $3.68. That is also about 81% retraced, with about 19% of the gain left. Neither stock meets the 'essentially all' test, which allows at most 10–15% of the gain to remain, but both sit at the edge of the 80–85%+ range for mostly true. The evidence does not describe the head-and-shoulders pattern, so that part of the claim cannot be confirmed.