"Mortgage finance giants Fannie Mae and Freddie Mac were ordered by their federal regulator to no longer trade their shares on the New York Stock Exchange, the agency announced Wednesday. Both stocks plummeted on the news."and later:
"Shares of Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500) both plunged about 50% in late-morning trading. Fannie Mae fell to 45 cents, while Freddie Mac was trading at 61 cents. Each firms' shares are eventually expected to trade publicly on the over-the-counter bulletin board, also known as pink sheet trading."
It would be interesting to know what part of this drop was caused by a lack of liquidity and what part is a signaling story (even though it is denied in the CNN story).