Trump Media Shares Fall, Raising Questions About Viability

Shares of Trump Media have erased all gains since debuting last month, now trading around $36 per share compared to a high of $66
Much trading activity is investors positioning bets on whether the stock will continue falling or rebound
As stock price drops, Trump's net worth tied to the company has fallen from $5.2B to $2.9B, though he can't sell shares for 6 months
Company lost $58.2M last year, hasn't reported user metrics, and auditor raised going concern notice over its ability to stay afloat
CEO Devin Nunes expressed confidence with over $200M cash on hand, no debt, and opportunities to expand the platform, though business fundamentals remain uncertain