After a whirlwind week that saw former President Donald Trump's net worth soar amid frenzied trading of shares in his latest venture, MSNBC hosts took to the airwaves in disbelief, questioning the role of the Securities and Exchange Commission (SEC) in what they cried as market manipulation.

After shares skyrocketed to a high of $79 last week before settling at $57.99, the company's valuation reached an astonishing $8 billion and reportedly added $4 billion to Trump's wealth, and the network's personalities did not hold back their criticism and astonishment.

MSNBC highlighted the staggering valuation of the stock, which at its peak, was "literally something like 2000 times the revenue number." They flagged this as "absurd," questioning why the SEC had not intervened.

The conversation took a deeper dive into the mechanics of how Trump, the 2024 frontrunner, could potentially benefit from the surge in paper wealth. For Trump to convert his soaring net worth into liquid assets, he would require permission from the company's board—a move that, if made public, could itself "tank the stock even more" due to the massive sell-off it would trigger.

MSNBC's Stephanie Ruhle described the former president's company as "fakakta," a Yiddish term for something that is nonsensical or messed up, claiming that, unlike other social media platforms that have tangible business models and innovation, claiming that Trump's venture lacks a concrete business strategy beyond being a platform for his postings.

"All this is Donald Trump posting. And so you've got, as Andrew said... that whole kind of Wall Street bets, Trump loyalists, rah-rah boys saying, 'I'm going to take this thing to the moon.'" Rhule went on, "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!"

The financial phenomenon last week placed Trump’s media firm’s share price at an astonishing 2,000x its revenue, drawing attention from investors as well as critics of the former president. Some have argued the company’s skyrocketing value is less about its financial fundamentals and more about investment in Trump’s brand and potential political future.

Trump, who owns a 78% stake in the company, saw his net worth swell by $6 billion as a result of trading, making it the single greatest one-day return for him in his career. The stock opened Tuesday morning at a price of $78 per share. Analysts are continuing to monitor the fundamentals of Trump’s venture, which they say will need to increase its quarterly revenues if it is to sustain the lofty valuation.

Trump Media brought in $3.4 million over the first nine months of 2023, presenting an opportunity for advertisers to flock to Truth Social.

According to data from Trade Alert, the stock is among the most actively traded. Posts on social media suggest that some supporters of Trump have purchased shares in TMTG. However, a significant portion of the trading volume appears to be driven by speculators aiming for quick profits.

The stock saw significant volatility Monday, dropping more than 20% of its value. With large investment firms set to disclose any positions in TMTG by the end of March, it's unclear if hedge funds and other Wall Street entities will embrace these risks and participate in the speculation.