Former President Donald Trump's social media startup, Trump Media & Technology Group Corp., is experiencing a sharp decline in its stock value as it struggles to attract the same level of enthusiastic traders that fueled its rally last month. The parent company of Truth Social has seen its market capitalization plummet by nearly half since reaching a peak on March 27, resulting in a loss of approximately $4.3 billion. This recent drop has pushed the company's value below the $5 billion threshold for the first time since going public.

Over the past nine trading sessions, apart from two exceptions, Trump Media's stock has been on a downward trajectory. This decline has also been accompanied by a noticeable decrease in trading activity, with Wednesday shaping up to be the slowest day since the lead-up to Trump Media's blank-check deal vote.

As a consequence of these losses, Donald Trump's personal stake in the company has decreased by $2.5 billion in just two weeks, leaving him with a remaining stake valued at $2.7 billion. The significant decline in paper wealth has undoubtedly been a setback for the former president.

Trump Media & Technology Group Corp.'s decline highlights the challenges faced by the social media platform in attracting and retaining traders' attention. The stock's lackluster performance serves as a stark contrast to the initial excitement that propelled it to significant gains last month.

Investors and analysts are closely monitoring the situation to determine if Trump Media & Technology Group Corp. can recover from this recent downturn and regain momentum in the market. Meanwhile, industry observers continue to assess the long-term viability and competitive landscape of Truth Social in the already crowded social media industry.

As the company navigates these challenging times, whether Trump Media can regain its previous market value and attract enthusiastic traders remains to be seen. Regardless, this recent decline has clearly had a substantial impact on both the company's market capitalization and Donald Trump's personal wealth.