Forward Industries Expands Solana Holdings to 7.55 Million Tokens, Stock Price Surges Over 17%

CoinFeed reported on July 1, according to The Block, that US-listed company Forward Industries (FWDI) additionally purchased over 500,000 SOL in the fiscal quarter ended Tuesday, bringing its Solana holdings to approximately 7.55 million tokens, worth approximately $776 million (the article says about $576 million, subject to market fluctuations), making it the largest SOL treasury holder, with holdings exceeding the combined total of the next three listed Solana-holding companies. The company stated that it issued 93,642 shares through ATM this quarter and repurchased shares when the stock price was below the net SOL per share, with the goal of 'maximizing SOL per share and enhancing long-term shareholder value.' As a result, FWDI's stock price surged over 17% intraday, and Solana's price also rose to a one-month high of about $77.