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Anastasia Boushee

MSNBC Panel Suffers Meltdown Over Truth Social Stock, Demands Investigation

A panel on MSNBC’s “Morning Joe” has demanded the Securities and Exchange Commission (SEC) investigate former President Donald Trump’s Truth Social stock because Trump’s supporters dared to buy it and increase the value beyond what the company is supposedly worth.

In Truth Social’s first official days of trading, the stock surged likely in large part due to purchases from Trump’s supporters — skyrocketing Trump’s net worth.

According to the MSNBC panel, this may amount to “manipulation” of the stock’s value, for which they demanded an investigation from the SEC.

One panel member, CNBC’s Andrew Ross Sorkin, argued that the rising stock price is “absurd,” claiming that it should be investigated because there is “a group of people” buying it purposely to increase the price to “transfer money” to Trump.

“To the extent it makes any money, the revenue number, the amount of money this company makes, is $4 million,” he said. “That’s it. That’s all this company makes and it’s being valued in the billions of dollars, literally something like 2,000 times the revenue number. And then the whole thing is absurd. Why the SEC does not think there’s some kind of stock manipulation going on, by the way, but clearly this is one of these almost meme-like stocks where there’s clearly a group of people that are trying to push up the price to almost transfer money potentially to the former president.”

MSNBC host Stephanie Ruhle joined in on the conversation, claiming that purchasing stock in a company owned by the presumptive Republican presidential nominee could be considered as “unregulated” political donations.

“Any other social media platform that went public has a real business, has product innovations. This is nothing,” Ruhle said. “All this is, is Donald Trump posting. And so you’ve got … that whole kind of Wall Street Bets, Trump loyalist[s] … saying I’m going to take this thing to the moon. But the other group that could be more dangerous, what an unbelievable transfer of money, right? Unofficial payments, unregulated, almost political donations that nobody’s going to track. And that’s when people are looking at the SEC saying, are you kidding me?”

Sorkin responded by reiterating his demand that the SEC launch yet another investigation into Trump, claiming that investors are trying to “influence the outcome of the election.”

“That’s why I said, where’s the SEC in this?” he said. “Because this is one of those true manipulations of sorts … People have to try to push up the price almost like in a pyramid-like way to try to get money to the president to try to, effectively, influence the outcome of the election. Why nobody’s going, what is going on here, makes no sense.”

This is yet another transparent effort by Democrats to use lawfare against the enemy of their chosen 2024 presidential candidate, President Joe Biden. Trump is facing numerous political prosecutions across the country that have not had the Democrats’ desired effect of hurting his poll numbers, so it makes sense that they are demanding yet another investigation — though this one is likely to backfire as well if the SEC were to agree with MSNBC and start investigating Truth Social.

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