I would let the dust settle before I bought anymore. Might get a bunch for 20 cents. But the government is already talking about who gets the money after FNMA. Preferred vs common. That was the stop signal for me. It's your money, but if it were me I would sell and let it go lower, and watch for an uptrend.
Smart person. This thing quacks like a penny stock. At this point of the game it is just a #$%$ shoot. But 20 cents a share is not a bad seed to sew. I wished I had bought a few weeks ago when it was at 20 cents. My gut told me to and I didn't. So we will see what happens. My gut says too that MM's rigged this thing up to 5 and put the news out there to cause a sell. Now they make money on the shorts. I have got to learn how to do options. Pure genius play.
Read the news on the front page. Read and listen carefully. The government is talking about liquidating Freddie and Fannie. One concern was who got the money when they bought them. They feel the preferred stock owners will get their money first. A lot of investors jumped out of the common and went into the preferred stock. FNMAS There are several articles there. Remember you buy the stock on the rumor and sell it on the news. That is lesson numeral uno. Always read the news about your holdings. Good luck