By Alexandra Ulmer

RANCHO PALOS VERDES, California (Reuters) -Donald Trump isn’t promoting any of his majority stake within the firm that owns Reality Social, and he is not going to depart the social media platform he created, the Republican U.S. presidential candidate informed reporters on Friday.

Shares of Trump Media & Expertise Group surged 18% following his feedback.

Trump owns about 57% of Trump Media, which noticed its shares hunch this week following his televised debate with Democratic rival Vice President Kamala Harris.

Friday’s surge within the inventory follows weeks of regular declines forward of key dates this month when Trump and different firm insiders will probably be allowed to promote their shares.

“No, I’m not promoting,” the previous president mentioned in reply to a query requested by Reuters. “I’m not leaving. I like it. I feel it’s nice.”

Trump Media noticed its worth balloon to just about $10 billion following its inventory market itemizing in March, lifted partially by Trump supporters and merchants betting he would win the Nov. 5 presidential election.

In response to provisions associated to Trump Media’s itemizing, Trump and different insiders will probably be allowed to promote inventory starting later this month, probably flooding the market with further shares.

If the inventory worth stays at or above $12 for any 20 buying and selling days commencing Aug. 22, then Trump will probably be free to promote shares starting on Sept. 20. In any other case, he’s eligible to promote shares starting on Sept. 26.

The inventory was final at $18.60 on Friday following Trump’s feedback.