Forward Industries Shares Rise 11% As Solana Bet Grows To 7.5 Million
- Forward Industries, the largest corporate Solana (SOL) holder, saw its share price rise by double-digits on Wednesday.
- The uptick came after the company revealed it bought over 500,000 Solana (SOL) in fiscal Q3 2026.
- The gain extended a rally that began in late June, when SOL started to recover.
- That rebound has offered relief to a stock weighed down by a broader 2026 downturn.
What Happened
According to the announcement, the firm acquired the tokens at an average price of about $79 each. Forward held 7.55 million SOL as of June 30, 2026.
Market Context
Forward Industries, the largest corporate Solana (SOL) holder, saw its share price rise by double-digits on Wednesday.
Meanwhile, the company sold 93,642 shares through its at-the-market program during the quarter. Forward also cited its recent inclusion in the Russell 2000 and Russell 3000 indexes.
“By repurchasing shares when Forward trades at a discount to NAV and issuing equity when our shares trade at a premium, we dynamically allocate capital in a way that compounds SOL per share and enhances long-term intrinsic value,” CIO Ryan Navi said.
Market conditions have since turned more favorable. SOL gained over 15% over the past week on strong network activity, outperforming large-cap cryptocurrencies,https://www.coingecko.com/BeInCrypto Markets data shows.
Why It Matters
The uptick came after the company revealed it bought over 500,000 Solana (SOL) in fiscal Q3 2026.
Forward Industries SOL Treasury Tops 7.5M
Details
FWDI closed at $4.70 on July 1, up 11.37%. The gain extended a rally that began in late June, when SOL started to recover. That rebound has offered relief to a stock weighed down by a broader 2026 downturn.
Follow us on X to get the latest news as it happens
SOL-per-fully diluted share rose to 0.0729 from 0.0669 in the prior quarter, a 36% annualized growth rate. Furthermore, shares outstanding fell to 73.85 million from 76.31 million.
Losses Still Weigh on the Largest SOL Holder
The buying spree came after a painful stretch. Forward recorded a $283.1 million net loss for the quarter ended March 31, 2026, driven by fair-value markdowns on its SOL stack. Revenue still quadrupled year over year on staking rewards.
The coming months will test whether SOL’s recovery can hold, a swing that flows directly to Forward’s balance sheet as the largest SOL holder.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
The post Forward Industries Shares Rise 11% as Solana Bet Grows to 7.5 Million appeared first on BeInCrypto.