Forward Industries Moves 1.9M SOL as Stock Slides 55%

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Forward Industries Moves 1.9M SOL as Stock Slides 55%

Forward Industries moved nearly 1.9 million SOL to a single Coinbase Prime address within hours, according to Arkhams on-chain tracking. The shift involved 1,887,962 SOL, valued at about $260.19 million, and came from several stake accounts. The activity drew attention because the destination address often receives institutional deposits.

Treasury Position Strengthens Despite Market Volatility

Forward Industries its treasury performance and confirmed 6.91 million SOL in its holdings as of November 15. The company continues to frame its approach around disciplined accumulation, validator growth, and structured capital planning.

Kyle Samani said, “Over the last month, we have executed upon a number of initiatives that have increased our SOL-per-share and driven meaningful shareholder value.”

Moreover, the companythat it holds nearly all SOL in staking programs that deliver a 6.82% gross APY. The firm also emphasized consistent execution of a tax optimization strategy during the past month.

Consequently, it reset $334 million in notional value and recorded spending of about $51,600 to manage future tax exposure. The company said these efforts support its plan to increase SOL-per-share and strengthen long-term economics.

Additionally, Forward Industries highlighted its new $1 billionprogram. The program signals confidence in its Solana strategy and future expansion plans. The company also changed its NASDAQ ticker from FORD to FWDI on November 17.

Stock Extends Decline as Selling Pressure Intensifies

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Forward Industries share price lost more than 55% over the past month as the stock slid from above $20 to roughly $9.12. The chart showed a firm downtrend with clear lower highs and lower lows.

A deeper decline formed early in November after the stock broke below $14 and $12. This move forced the price toward the $9 region. Pre-market trading showed a small rebound to $9.48, which suggested attempts at stabilization.