Recent data from DefiLlama indicates Forward Industries, a Nasdaq-listed firm traded under the symbol FORD, currently possesses approximately 6.82 million SOL tokens. The average price paid for these tokens was around $232 each. As of today’s market prices, the total value of their holdings stands at around $1.2 billion, resulting in a floating loss of roughly 24.13% and accumulated losses totaling approximately $382 million. Meanwhile, Yahoo Finance data reveals Forward Industries’ stock price has plummeted from a high of $39.6 to its current value of $10.44, reflecting a decline of about 73.6%. Despite holding SOL assets worth $1.2 billion, the company’s overall market capitalization has decreased to roughly $900 million. This has led to their market value-to-net asset value (mNAV) ratio dropping below 1, implying that the market currently assigns a lower valuation to the company than its tangible assets.