Forward Industries Shares Jump 17% After Expanding Solana Treasury to 7.55 Million SOL

Forward Industries surged more than 17% on Wednesday after reporting it added over 500,000 SOL during its fiscal third quarter, bringing total holdings to 7.55 million tokens worth approximately $576 million. The Nasdaq-listed company acquired the tokens at an average price of around $79 each, reporting annualized SOL-per-fully diluted share growth of 36% from the previous quarter.

Lead Over Competitors Continues to Widen

Forward Industries’ holdings now exceed the combined SOL treasuries of Solana Company, DeFi Development Corp. and Upexi, which together hold roughly 6.7 million SOL. The company also sold 93,642 shares through its at-the-market equity program while repurchasing stock when shares traded below net asset value.

Russell Index Inclusion Opens Institutional Access

Forward Industries highlighted its recent inclusion in the Russell 2000 and 3000 indexes as a meaningful development, providing greater visibility among institutional investors and additional capital-raising capacity for future SOL purchases. Chief Investment Officer Ryan Navi said the company’s mandate remains focused on maximizing SOL per share and long-term shareholder value.

Solana itself climbed to a one-month high above $77 on Wednesday, recovering from a two-and-a-half-year low near $60 earlier in June.