MSNBC hosts found themselves in a whirlwind last week as they analyzed the astonishing rise in former President Donald Trump’s wealth amidst soaring shares of his latest venture. They questioned, “Where’s the SEC?” baffled by the apparent absence of regulatory action. They deemed the stock’s valuation “absurd,” emphasizing its mind-boggling 2000x revenue multiple.

Stephanie Ruhle slammed Trump’s company as “fakakta,” lacking a solid business strategy beyond serving as his posting platform. She criticized its reliance on “Wall Street bets” and unofficial payments, demanding accountability from the SEC.

The surge left Trump $6 billion richer in a single day, his largest one-day gain. But doubts persist about the company’s fundamentals, with analysts urging increased quarterly revenues to sustain its lofty valuation.

Trump Media, with $3.4 million in revenue over nine months, attracted advertisers to Truth Social. Social media posts indicated both Trump supporters and speculators buying shares, driving volatility. The stock plummeted 20% on Monday, raising questions about institutional investor participation.

In the frenzy, MSNBC hosts demanded SEC scrutiny, echoing concerns about market manipulation and Trump’s unprecedented gains. They fear the company’s sky-high valuation is more about brand investment than financial performance.

As the SEC faces mounting pressure to act, the market awaits disclosures from major investment firms by month’s end. Whether hedge funds embrace TMTG’s risks remains uncertain amidst the speculation storm.