Trump says he has no plans to sell Trump Media stock

Investing.com -- U.S. President-elect Donald Trump said in a post on his Truth Social site on Friday that he has "no intention of selling" shares in Trump Media&Technology.

In the post, Trump described the rumors as "fake, untrue, and probably illegal," adding that they have probably come from "market manipulators or short sellers."

DJT, which owns Truth Social, has seen its shares jump more than 9% on Friday following the post. However, the stock declined by almost 23% in Thursday's session.

"There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth. THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!" Trump stated.

He added: "I hereby request that the people who have set off these fake rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities."

Furthermore, Trump said Truth Social was an important part of his election win, and he "deeply believes in it."