Fannie, Freddie shares soar on huge volume

The volume of Monday and late last week on the shares is "kind of strange," said Keefe, Bruyette & Woods analyst Bose George. He thinks retail traders, coming from online brokerages such as Charles Schwab Corp., are driving the trading. It's not from institutional investors, he said.

"We continue to believe that the common stock is worth zero. They both owe the government about $50 billion each and have no capital of their own,"