Fannie Mae Shares Pulled from NYSE

Hope you weren’t banking on a rebound: Fannie Mae and Freddie Mac will delist their shares from the New York Stock Exchange, according to the Associated Press. The move comes after Fannie stock traded below the $1 average price level for 30 trading days. According to NYSE rules, the company must either correct this situation or delist the stock. The government-owned companies, which took $145 billion in bailouts in 2008 and 2009, are expected to trade on the Over-the-Counter Bulletin Board, an electronic quotation service.