As soon as the April 9 morning bell rang, President Trump’s stock recommendation drew much attention and scrutiny. He urged his followers to buy Trump Media (NASDAQ: DJT) stock several hours before the official tariff pause that generated one of the biggest market rallies in history.
For those who followed the commander-in-chief’s advice, the trade proved extravagantly lucrative within just one day. Specifically, DJT shares ended the day at $20.27, having rallied 21.67% during the session.
This means that those who wagered just $1,000 when they saw the Truth Social post were $216.70 richer by the evening as their new stake would have appreciated to $1,216.70.
DJT stock’s performance in the Thursday, April 10, pre-market hints that the trade does not have to be short-term. The equity is up another 1.28% in the extended session, signaling more future gains.
How President Trump kickstarted one of the biggest intraday rallies on record
Simultaneously, the week that started on Monday, April 7, featured two remarkable intraday stock market reveals, both driven by the same information, albeit false the first time and true on Wednesday.
Specifically, global equity has been on the chopping block, and record drops have been recorded since President Donald Trump’s Liberation Day tariff announcements, while talk of a 90-day pause twice halted the bloodshed.
Confirming such a positive development for all countries other than China enabled the S&P 500 to enjoy one of its biggest one-day rallies in history, having closed 9.52% in the green on Wednesday.
Trump’s tariff pause and market manipulation allegations
For all the positivity, several occurrences during the Wednesday session and chatter from the Congress floor have given rise to allegations of market manipulation. To begin with, President Trump’s vast influence over the stock market’s fortunes, paired with his involvement with Trump Media, makes for an uncomfortable reality.
Furthermore, a brief and swiftly erased uptrend was observed on Wednesday, shortly before the official announcement, triggering speculation that a chosen few were forewarned about the tariff pause.
Lastly, Representative Alexandria Ocasio-Cortez took to X late on April 9 to urge a Congressional trading ban, claiming that the STOCK Act filings – due by May 15 at the latest – would be insightful while strongly implying insider trading.
The latest development aligns with President Trump’s other dubious activities, which have ensured that allegations of market manipulation have shadowed him through the opening months of his second administration.
A high-profile and recent example involves launching a series of meme coins just before his January 20 inauguration. Though the President-themed cryptocurrency had a reasonable lockup period, the same can’t be said for other digital assets themed after the various Trump family.
Featured image via Shutterstock
