Vivek Ramaswamy’s presidential campaign has stopped spending money on television ads and does not have any TV ad reservations booked, according to his campaign and data from an ad-tracking firm.

As recently as the first full week of December, the GOP entrepreneur’s campaign spent more than $200,000 on TV ads. Last week, it spent just $6,000 on ads — all of it on TV — figures from the firm AdImpact show.

[Ramaswamy’s team is trying to pitch this as being part of a non-traditional campaign, but it’s a very strange time to go avant-garde. The Iowa caucuses are less than three weeks out, and then New Hampshire and South Carolina come quickly after that. This looks more like a campaign that has run out of cash, and a candidate unwilling to invest any more of his fortune to keep it afloat. — Ed]