After repeating the common wisdom about ‘dips’ being excellent buying opportunities earlier in April, President Donald Trump took to social media on Wednesday to recommend his followers purchase Trump Media (NASDAQ: DJT) stock.
Investors were quick to listen to the commander-in-chief as DJT shares rocketed 7.28% in the initial hour of the April 9 session. At press time, Trump Media stock is changing hands at $17.89.
The latest upsurge stands in stark contrast with DJT shares’ longer-term performance. The equity has been pummeled in 2025, dropping 47.82% year-to-date (YTD) and 10.68% in the last 30 days. Still, the rally has already proven enough to send the weekly performance into the green, albeit by only 2.21% by press time.
Did Trump just halt the U.S. stock market selloff?
Interestingly, the President’s post about the buying opportunity appears to have rippled beyond Trump Media as, at press time on April 9, the benchmark S&P 500 index is approximately 0.50% green, with several Magnificent 7 stocks rising sharply at the start of the Wednesday session.
Simultaneously, the uptrend is not guaranteed to last, as most of the factors that sent the U.S. markets deep into the red remain in play, and some, such as the trade war with China and the EU, have only grown worse.
Furthermore, between the fate of the inauguration meme coins, Ethereum’s (ETH) performance between Eric Trump’s buy recommendation and April 7, and Donald Trump’s statement his administration is not concerned with the stock market for the time being, following the President’s investment advice appears risky.
Featured image via Shutterstock
Source: https://finbold.com/djt-stock-soars-8-as-trump-urges-traders-buy-the-dip/