Solana treasury Forward Industries authorizes $1B share repurchase

Forward Industries, which has accumulated more than $1 billion worth of Solana, saw its share price plunge Tuesday morning.

Forward Industries, a digital asset–focused company that has built a significant position in Solana as part of its ongoing shift, has authorized a $1 billion share repurchase program — a move aimed at returning value to shareholders as it advances its transition into a digital asset treasury model.

The share repurchase program, authorized on Monday, allows Forward Industries to buy back its stock on an ongoing basis through open-market purchases, block trades or privately negotiated transactions, the company announced.

Forward said the authorization provides flexibility amid market volatility, though share repurchases are typically aimed at returning value to shareholders by reducing the number of shares outstanding and minimizing dilution.

Read more