By Isaac • November 12, 2026 7:34 pm •
Forward Industries now controls 8.73 million SOL, yet the market is still pricing its stock below the value investors might expect from that treasury.
That gap looks dramatic at first glance. It becomes much smaller once every potential share claim is counted, which is exactly why this story is more interesting than a simple “cheap stock” headline.
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In a filing with the SEC, Forward said it held 8,727,694 SOL and SOL equivalents as of November 9, up 226,396 SOL since September 30. SOL per fully diluted share rose from 0.0806 to 0.0824 over those 40 days, which the company described as a 2.3% increase, or roughly 21% on an annualized basis.
The added SOL carried an
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