Investors Shrug It Off

The OFHEO report may have slammed Fannie Mae's management, but Wall Street seems to view it as water under the bridge.Fannie Mae's stock, which had been frozen from trading yesterday morning in light of the OFHEO report, closed yesterday at $50.72, up 45 cents from its opening price. Trading volume was heavy, with more than twice as many shares being changing hands as on an average day. The closing price on May 23 was about midway between Fannie Mae's 52-week high of $61.66 and its 52-week low of $41.34.