Donald Trump Faces Insider Trading Allegations After Trump Media Stock Skyrockets 22%
Former U.S. President Donald Trump is once again in the spotlight — this time for allegedly influencing the stock market in a way that benefited his own financial interests. On the same day Trump urged investors to “buy” stocks amid a steep market drop, Trump Media & Technology Group (Ticker: DGT) — in which he holds a 53% stake — soared by 22.67%, doubling the market’s average gains.
“He made 2.5 million today and he made $900 million. That’s not bad.”
Sounds like market manipulation to me. That’s bad. pic.twitter.com/1WYxcqam9O
— Outspoken™️ (@Out5p0ken) April 10, 2025
Trump’s Market Post and Timing Raise Eyebrows
Early Wednesday morning, Trump posted on his social media platform Truth Social, calling it a “great time to buy” as markets reeled from fears of a looming global trade war. Notably, his message concluded with the initials “DGT,” which is also the stock ticker for Trump Media, the parent company of Truth Social.
While Trump often signs posts with his initials, critics argue this specific post was a thinly veiled call to invest in his own company.
Trump Media Shares Jump $415 Million in a Day
The response from investors was immediate. Trump Media shares surged over 22%, adding approximately $415 million to Trump’s stake — now held in a trust managed by Donald Trump Jr.
Adding to the buzz was a viral video of Trump joking about associates making “$900 million” and “2.5 million” in a day. While he laughed off the gains, critics quickly pointed out the timing of his public statements and the resulting rally in related stocks.
Trump’s Influence Hits More Than Just His Own Company
Interestingly, Trump Media wasn’t the only company benefiting from his commentary. Tesla, a known favorite during the Trump administration, also surged — outperforming the market slightly less than Trump Media.
With these stock movements occurring just hours before the White House announced a pause on reciprocal tariffs, critics began asking tough questions.
Calls Grow for Insider Trading Investigation
Several Democratic lawmakers and ethics experts are calling for an official investigation into potential insider trading, given the timing of Trump’s remarks and the decision to delay tariffs — which directly influenced market sentiment.
“The people who bought when they saw that post made a lot of money. He better be careful,” said Richard Painter, former White House ethics lawyer.
Under U.S. securities law, it is illegal to trade — or encourage trading — based on non-public information.
White House Offers Vague Responses
When asked about the tariff rollback decision, the former president gave unclear responses, stating, “I’ve been thinking about it… this morning.” Meanwhile, aides have insisted that Trump was merely trying to “reassure the markets” and that his post was not an official investment recommendation.
However, the lack of transparency and vague timelines have only intensified scrutiny over whether Trump’s actions may have violated insider trading laws.