Donald Trump's social media venture, Trump Media & Technology Group (TMTG), has seen its stock value plummet nearly 70% since March, leading to a staggering $4 billion loss in Trump's net worth. The share price has dropped from $66.22 to approximately $18, knocking Trump off the Bloomberg Billionaires Index. Analysts point to TMTG's weak fundamentals, with minimal revenue generation and significant losses, as well as market dependence on Trump's political fortunes. Matthew Tuttle, CEO of Tuttle Capital Management, stated that the stock's value is intrinsically tied to Trump's potential electoral success, indicating that if he loses, the company may not survive. Despite these challenges, TMTG has over $300 million in cash reserves and is exploring revenue from its streaming platform, Truth+. The impending expiration of a lockup period on September 19 raises questions about whether Trump will sell his shares, potentially exacerbating the stock's decline.