Trump Media & Tech surged over 15%, Trump stated he does not plan to sell his shares and called for an investigation into the spreaders of false information

On Friday, Trump Media & Tech (DJT), the parent company of Trump's social media platform Truth Social, quickly surged during trading, reversing an early decline and temporarily halting trading due to significant volatility, ultimately closing up over 15%. On Thursday, DJT plummeted 22%, interpreted as a retreat from Trump trades.

On the same day, elected President Trump stated that he has no intention of selling his shares in Truth Social. This was Trump's first personal statement since winning the U.S. presidential election this week, which he posted on Truth Social:

There are false, untrue, and possibly illegal rumors and/or statements, perhaps issued by market manipulators or short sellers, claiming that I intend to sell my shares in Truth.

Those rumors or statements are false. I have no intention of selling! (Note from Wall Street Journal: Trump emphasized these two sentences in all capital letters.)

I hereby request that the relevant authorities immediately investigate those who spread these false rumors or statements, as well as those who may have done so in the past.

Trump is the major shareholder of Trump Media Company, and as of Friday, his shareholding is valued at over $3 billion.

On the day of the U.S. election, Trump Media Company reported a net loss of $19 million for the last quarter, with revenue slightly above $1 million. Nevertheless, driven by Trump's victory, investor enthusiasm for the stock remains strong