Forward Industries Faces Significant Losses on Solana Holdings

According to Odaily, data from DefiLlama reveals that Forward Industries, a Nasdaq-listed company under the ticker FORD, currently holds approximately 6.82 million SOL tokens. The average purchase price for these tokens was around $232 each. At the current market price, the total value of these holdings is approximately $1.2 billion, reflecting a floating loss of about 24.13% and an accumulated loss of approximately $382 million. Yahoo Finance data indicates that Forward Industries' stock price has plummeted from a high of $39.6 to the current $10.44, marking a decline of about 73.6%. Despite holding SOL assets valued at $1.2 billion, the company's total market capitalization has fallen to around $900 million. This has resulted in its market value to net asset value (mNAV) ratio dropping below 1, indicating that the market valuation is significantly lower than its book asset value.