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Solana Treasury Company Forward has accumulated a loss of $382 million, and the mNAV has fallen below 1.
Odaily News According to DefiLlama data, Nasdaq-listed Solana treasury company Forward Industries (stock code: FORD) currently holds about 6.82 million SOL, with an average purchase price of about 232 USD. Based on the current price, the total value is approximately 1.2 billion USD, with unrealized losses of about 24.13%, and cumulative losses of about 382 million USD. According to Yahoo Finance data, the company's stock price has fallen from a peak of 39.6 USD to the current 10.44 USD, a decline of about 73.6%. Although Forward still holds SOL assets worth 1.2 billion USD, the company's current total market capitalization has dropped to about 900 million USD, and its mNAV (market capitalization to net asset ratio) has fallen below 1, indicating that the market valuation is significantly lower than its book asset value.