Forward Industries announced an expansion of its global Solana reserve to 7.55 million SOL, causing a 17% increase in the stock price.

BlockBeats News, July 1st, according to BIT (bit.com) market data, Forward Industries (FWDI) saw its stock price rise by over 17% on Wednesday. Earlier, the company announced that it had purchased over 500,000 Solana (SOL) during its fiscal third quarter, further expanding its digital asset reserves.

Currently, the company's total Solana holdings have exceeded 7.55 million tokens, with a value of approximately $576 million. As a Nasdaq-listed company, Forward Industries stated that it completed the aforementioned purchases this quarter at an average price of around $79, achieving an annualized growth rate of 36% in its "fully diluted shares per SOL held," a significant increase from the previous quarter.