President-elect Donald Trump has denied reports that he intends to sell his shares in his Truth Social platform.

Trump, in a post on Truth Social on Friday, rejected what he described as ‘rumors and untrue’ that he was planning to sell shares a day after the stock spiked.

“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,” Trump wrote.

Reuters reports that shares of the company has gone up about 8.7 percent at $30.15 in midmorning trade on the Nasdaq and hit a high for the session of $32.

However, the stock was briefly halted for volatility after spiking on Trump’s comments.