Shares in Trump Media (NASDAQ:DJT) closed with double-digit gains and rose as much as 22.4%, being among the top gainers within the communications services sector on Wednesday.

In a post on his social media platform Truth Social, Donald Trump said, "THIS IS A GREAT TIME TO BUY!!! DJT." The post came hours before the announcement of the 90-day pause on the U.S. reciprocal tariffs unveiled by him earlier this month.

Over 14.45M DJT shares have changed hands during the trading session, 2x its 3-month daily moving average. Short interest on the stock is 5.47%.

DJT shares have fallen 49% so far this year while the benchmark S&P index (SP500) was down 7% for the same duration.

Seeking Alpha analyst and Investing Group leader Daniel Jones said in his March 25 article that DJT stock remains a 'strong sell' due to significant overvaluation and deteriorating financials, including a 58.3% stock drop since April 2024.

"Despite recent ventures into financial services and platform updates, the lack of user metrics and substantial revenue streams makes future growth uncertain," Jones said.

DJT has no Wall Street analyst rating or Quant ratings from Seeking Alpha but a "STRONG SELL" rating from SA analysts on average. The company has a market cap of $3.67B.