Among the Washington swamp denizens, President Trump is leaving a lot of them in a gape-mouthed stupor.

According to The Hill:

The parent company of former President Trump’s Truth Social platform defied expectations in its first week on the stock market.

Trump Media & Technology Group stock closed at roughly $62 per share Thursday after a whipsaw week of trading. Shares of Digital World Acquisition Corp. (DWAC), the “blank check” company that Trump Media merged with last week, closed at $49.99 per share the day before the newly combined firm’s stock market debut.

Like everything else about President Trump, the swampy left always undervalues and underestimates him.

But we see a lot of headlines like this with a Google search:

The Trump Stock Bubble: How Long Will It Last? -The New Yorker

Seth Meyers Is Skeptical of Trump’s Rising Stock -The New York Times

Trump's Media Stock Is Riding a MAGA Wave. How It Could Crash. -Barron’s

And dismissive warnings like this:

The mismatch between Trump Media’s strong market debut and the reality of its financials places it firmly in the “meme stock” category, experts said, arguing that enthusiasm for the former president appears to be a key driver of the stock.

...and...

The passion that Trump supporters have for the former president lines up with the “quasi-religious fervor” needed to fuel a meme stock, said Steve Sosnick, chief strategist at Interactive Brokers, a brokerage firm.

“You need a large group to have a belief in the company that goes beyond just normal investment criteria,” Sosnick said.

One guy even insisted he "knew" what the stock was "worth" which wasn't what the market said it was worth:

Jay Ritter, a finance professor at the University of Florida and an expert in initial public offerings, estimates that Trump Media stock is actually worth about $2 a share, based on the $300 million infusion from its merger with DWAC, which was finalized Monday.

Which is ridiculous. A stock is worth what the market says it's worth, like it or not. It's not a matter of an expert opinion or even a top analyst's opinion. It's the market's and only the market's opinion. Oh, and while we're at it, stocks are only good if they go up, as famed investor Bill O'Neill, who wrote the best book on stock investment, "How to Make Money in Stocks," once said. It's never wise to "hang on" to a stock for sentimental reasons, actually, it's a good way to lose money.

Trump made a pile, because investors thought it was worth their while to plunk their money down on it. If it wasn't making money, they would have bought something else.

But this is what drives them bonkers.

See, Trump is making his money the old fashioned way, by earning it. He put out a product the market liked -- and people took a chance with their money to buy it. Stocks go up and stocks go down, but among the Trump-haters, Trump's stock can only go down or be worth less than what the market says it's worth.

It must bother the swamp denizens of the establishment immensely that Trump didn't make his latest pile the way they do -- through insider trading, which has been found in Congress, at the regulatory agencies, at the Fed, and at the cabinet offices in large numbers in recent years.

The Trump cash earned from the sale of his company came from a conventional share exercise, and since he owns a large share of Truth Social, he stands to make a lot, something like $5 billion, which could go lower or higher in the six months he must hold onto it before he can sell, but that's the market's business.

No, it's not one of those pols who mysteriously increases his fortunes while in public office, it's just the market working the way it's supposed to work.

The swamp can't handle that since the winner here is Trump, so they'll do all they can to insist that the grapes are sour and Trump can't possibly make money honestly the way they don't.

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