Trump Media & Technology Group Corp ( DJT ) shares soared in afternoon trading Wednesday alongside the broader market after President Donald Trump announced a 90-day pause on reciprocal tariffs. Trump Media ( DJT ) shares have carried that momentum into the after-hours session.

What To Know: Stocks staged a massive rally on Wednesday after Trump announced a 90-day tariff pause in a post on Truth Social. 

“Based on the fact that more than 75 Countries have called Representatives of the United States … to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE,” Trump said in the post.

The tariff pause will be effective immediately for non-retaliating countries, while China will face a harsh 125% tariff. The announcement came hours after Trump’s sweeping reciprocal tariffs took effect.

Trump Media ( DJT ), which is the parent company of Truth Social, was co-founded by Trump, who maintains more than a 50% stake in the company.

The price action in Trump Media ( DJT ) shares has been detached from the company's fundamentals for some time. During Trump’s 2024 presidential campaign, the stock moved up and down alongside Trump’s chances of reelection. Now the stock appears to be moving alongside Trump’s approval ratings.

Trump’s approval ratings have fallen in recent months related to tariff uncertainty. Trump had approximately 47% approval when he took office in January, but Reuters reported his approval ratings had fallen to 43% as of last week.

It’s worth noting that Trump said in a Truth Social post Wednesday morning shortly after the market opened that “this is a great time to buy.” He included the ticker symbol for Trump Media ( DJT ) in the post.

DJT Price Action: Trump Media ( DJT ) shares closed Wednesday up 21.67% at $20.27. The stock was up another 5.82% after hours, trading at $21.45 at the time of publication, per Benzinga Pro.

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