Forward Industries (FWDI) shares surged more than 17% this Wednesday after announcing a massive expansion of its digital treasury. The U.S. company confirmed the acquisition of over 500,000 Solana (SOL) tokens during its fiscal third quarter, bringing its total reserves to 7.55 million SOL, equivalent to approximately $576 million.
This aggressive accumulation firmly consolidates FWDI as the largest publicly traded company with a Solana-backed treasury, surpassing the combined holdings of its top three institutional competitors. The move pushed the price of the SOL cryptocurrency to a monthly high above $77, while the firm leverages its recent inclusion in the Russell 2000 and 3000 indexes to raise capital and continuously increase its value per share.
For Forward Industries, the next step is to capitalize on this positioning through stock issuance and repurchase strategies based on its net asset value, maintaining its institutional roadmap oriented toward the blockchain ecosystem.
Source: https://n9.cl/gzim0r
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