Former President Donald Trump’s said that he has no intention of selling his stake in Trump Media which caused the company’s shares to surge on Friday, according to CNBC.

The stock rose by as much as 25% in intraday trading following Trump’s comments at his California golf club.

“I’m not selling,” Trump said, addressing concerns about his nearly 57% stake becoming available for sale when a lockup agreement expires next week. The stock closed at $17.97 per share, up more than 11% for the day.

Trading was briefly halted twice because of volatility, leading Donald Trump to slam NASDAQ on Truth Social, the platform he owns through Trump Media. He even threatened to move the stock to the New York Stock Exchange if the interruptions continued.

Trump emphasized his long-term commitment to the company, stating, “I didn’t do it for the money. I did it because I really wanted to have a strong voice, and it’s a great voice for me.”

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Despite a strong start when it began trading as DJT on the Nasdaq in March, the stock has plummeted by up to 80% from its peak. Trump speculated that the recent drop could be linked to rumors about a potential sell-off.

Trump Media, which reported significant losses in its latest earnings report, has acknowledged in SEC filings that Truth Social’s success is tied to Trump’s continued popularity.

Despite financial challenges, the company maintains a market capitalization of over $3.7 billion.

Analysts note that investing in Trump Media has become a way for Trump’s supporters to back him or bet on his political future.

Read more at CNBC