“Clearly, this is one of these meme-like stocks where there’s clearly a group of people pushing up the price to transfer money to the former president,” said Andrew Ross Sorkin.
An MSNBC panel was having trouble coping with the fact former President Donald Trump’s net worth climbed after his social media company Truth Social went public.
Trump’s stock surged after Digital World Acquisition Corporation (DWAC) voted to approve a merger with Trump Media & Technology Group (TMTG) last month, which netted Trump almost $3 billion.
“Clearly, this is one of these meme-like stocks where there’s clearly a group of people pushing up the price to transfer money to the former president,” said CNBC’s Andrew Ross Sorkin.
NEW: MSDNC panel melts down over Trump’s soaring net worth from Truth Social stock, demanding an investigation, “Where’s the SEC?”
“Clearly, this is one of these meme-like stocks where there’s clearly a group of people pushing up the price to transfer money to the former… pic.twitter.com/uNh2IwmBEb
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“Many people are trying to push up the price in an almost pyramid-like way to get money to the president and effectively influence the outcome of the election.”
Sorkin went on to suggest that investors are running election interference for Trump and called for the Securities and Exchange Commission (SEC) to investigate.
“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 trying 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.”
