Solana Treasury Company Forward has accumulated a loss of $382 million, and the mNAV has fallen below 1.

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According to news from CoinWorld, data from DefiLlama shows that Forward Industries, a Nasdaq-listed Solana treasury company (stock code: FORD), currently holds approximately 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%, totaling approximately 382 million USD in losses. 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 decrease of about 73.6%. Although Forward still holds SOL assets valued at 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 market valuations are significantly lower than its book asset value.

SOL-1.45%
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