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The Biden administration’s strategy of politicizing the justice system to knock former President Donald Trump out of the 2024 presidential race has repeatedly hit roadblocks, so an MSNBC panel on Tuesday called on the Securities and Exchange Commission (SEC) to wage its own lawfare campaign against Trump for having a successful trading day.
Trump’s “Truth Social” app went public on March 25, with the company’s valuation reaching $13 billion, according to the Financial Times. The stock lost $4 billion in value by Tuesday, according to CBS News.
Still, MSNBC seemingly had a meltdown that the current lawfare campaign against Trump has yet to be fruitful and that Trump making money off his app would benefit him in the election. The panel appeared to insinuate the SEC should try and kneecap the former president by launching its own investigation.
“To the extent it makes any money, the revenue number, the amount of money this company makes, is $4 million. That’s it. That’s all this company makes and it’s being valued in the billions of dollars, I mean literally something like 2,000 times the revenue number,” CNBC’s Andrew Ross Sorkin said. “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
