Forward Industries Shares Spike as Leading Solana Treasury Adds $38 Million in S

Shares in leading Solana treasury firm Forward Industries have jumped nearly 17% to trade at $4.94 after the firm announced it acquired more than $38 million worth of Solana during its fiscal third quarter.

The firm bolstered its treasury with more than 500,000 SOL at an average price around $79 and now maintains a balance sheet with around 7.55 million SOL, currently valued around $579 million as Solana trades just under $77.

"Our mandate is simple: maximize SOL per share and create long-term shareholder value," said Forward Industries CIO Ryan Navi in a statement. "Our execution this quarter demonstrates our ability to employ multiple capital formation strategies to acquire additional SOL in a highly accretive manner."

The firm utilized its at-the-market offering, selling 93,642 common shares during the quarter to raise funds.

Despite Wednesday's price jump, shares have fallen around 26% in the last six months of trading and are now 89% off their 52-week high of $46.

Beyond share price, the firm measures SOL held per share as an indicator of its performance, which has grown to 0.0729 or around 9% in the last three months.

"By repurchasing shares when Forward trades at a dis

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/crypto/articles/forward-industries-shares-spike-leading-150905385.html)