Shares of Trump Media & Technology Group Corp experienced a significant boost on Friday as former President Donald Trump announced he had no plans to sell his shares in the social media company. Speaking to reporters at his Los Angeles golf club, Trump stated, "I don't wanna sell my shares. I don't need money." This news comes as a relief to investors, as Trump owns approximately 115 million shares of the company, valued at around $1.85 billion based on Thursday's closing price of $16.08.

According to a recent filing with the Securities and Exchange Commission, Trump's lockup provision for Trump Media, the parent company of Truth Social, will end on September 19. This provision had prevented company insiders from selling newly issued shares for six months after the company went public in March. While Trump could potentially earn a substantial payout if he were to sell his shares, the value of Trump Media stock has significantly declined from its debut price of $79.38 per share.

Truth Social was created by Trump in response to his banishment from popular social media platforms, Twitter and Facebook, after the Capitol riot on January 6, 2021. However, the company, based in Sarasota, Florida, has been struggling to generate revenue and has reported substantial losses. In 2020 alone, Trump Media incurred a loss of nearly $58.2 million, with revenue amounting to just $4.1 million, according to regulatory filings.

Despite the financial challenges, Trump expressed his satisfaction with Truth Social, saying, "I use it as a method of getting out my word. For me, it is a great voice." This sentiment appeared to resonate with investors, as the stock experienced a dip of over 10% following the recent debate between Trump and Vice President Kamala Harris. However, on Friday, shares rallied with an impressive 11.8% increase, demonstrating renewed investor confidence in the company's potential.

As September 19 approaches, the market will closely observe whether Trump decides to take advantage of the post-lockup provision and sell his shares in Trump Media. While the former president's decision to hold on to his shares has led to a surge in stock value, the future profitability and sustainability of the company remains uncertain.

Disclaimer: This article is based on publicly available information and does not constitute financial advice. Readers are encouraged to conduct their own research and consult with a professional financial advisor.