Forward Industries faces a $382 million unrealized loss on its Solana holdings as its market cap falls below asset value amid a sharp share price drop.
Forward Industries holds 6.82 million Solana (SOL) purchased at $232 per token for $1.583 billion. The current value of these holdings is $1.201 billion, reflecting a $382 million unrealized loss. The company’s market capitalization has dropped to about $900 million after its share price fell from $39.60 to $10.44, marking a significant decline below its asset value.