Donald Trump says he has no plans to sell DJT stock, calls for probe into "market manipulators"

President-elect Donald Trump took to Truth Social on Friday to reiterate that he doesn't plan to sell shares of Trump Media & Technology Group. He also called for an investigation from "the appropriate authorities" into "market manipulators or short sellers," whom executives at the company and shareholders have previously blamed for volatility in the stock, which trades under the ticker symbol DJT.

DJT shares jumped shortly after Trump's post, gaining as much as 16% on Friday. The stock rose $3.15, or 11.4%, to $30.84 in early afternoon trading, partly reversing a 23% plunge on Thursday that had trimmed some of the company's gains in the run-up to the November 5 election.

Trump, who is the biggest shareholder of Trump Media with a 57% stake, said the business has been the target of "probably illegal rumors and/or statements" that he said allege he plans to sell shares of the company, which owns the Truth Social platform. In September, Trump had vowed not to sell his stake after a lock-up period expired for Trump Media insiders, allowing them to sell for the first time since the stock went public in March.