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Forward Industries Rises 11% After Expanding Its Solana Holdings

The company increased its SOL position to 7.55 million tokens, keeping its spot as the largest corporate holder of Solana. Its inclusion in the Russell 2000 and 3000 could also draw more attention from institutional investors.

By Zenz van der Wielen
• 2 min read
Forward Industries Rises 11% After Expanding Its Solana Holdings

Key Takeaways

  • Forward Industries rose 11.37% to $4.70 after the company said it had bought more Solana again.
  • Its Solana holdings grew to 7.55 million SOL, keeping Forward Industries as the largest corporate holder of Solana.
  • The company previously reported a net loss of $283.1 million, mostly because of fair-value write-downs on its SOL position.

Forward Industries climbed sharply on Wednesday after the company said it had added more Solana in the third quarter of fiscal 2026. FWDI shares finished July 1 at $4.70 (€4.13), up 11.37%, while the company’s SOL stash increased to 7.55 million tokens. That still makes Forward Industries the biggest corporate holder of Solana.

Bigger SOL Holdings

The filing shows the company bought more than 500,000 SOL during the quarter at an average price of about $79 (€69) per token. As a result, its position grew further, and SOL per fully diluted share rose to 0.0729 from 0.0669 in the prior quarter. On a yearly basis, that represents 36% growth.

Forward Industries also sold 93,642 shares during the same period through its at-the-market program. The company also highlighted its recent addition to the Russell 2000 and Russell 3000, a move that could put the stock in front of more institutional investors.

Losses and Recovery

The stock’s move higher follows a rough stretch for shareholders. For the quarter ended March 31, 2026, Forward reported a net loss of $283.1 million (€249 million), largely driven by fair-value write-downs on its SOL holdings. Revenue, however, did quadruple year over year thanks to staking rewards.

Recent strength in SOL has also helped lift sentiment around the stock. Solana has gained more than 15% over the past week on strong network activity, beating out major cryptocurrencies. That matters for Forward because changes in SOL’s price flow directly through to the value of its balance sheet.

Why This Matters for Europe

For European crypto readers, the update is another sign that public companies are taking direct exposure to major tokens like Solana more seriously. It also shows why SOL’s price is only part of the story, since treasury strategy, staking income, and share issuance all play a role. For investors, these setups are worth watching as crypto and traditional markets continue to overlap.

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