Forward Industries is about to find out what it feels like to have its entire balance sheet lit on fire by a cesspool of “Orangie” wannabes… 

Forwards Industries, the tiny company that used to design medical and tech accessories just raised $1.65 billion in a PIPE round to pivot into becoming the… *checks notes*... largest Solana treasury firm on the planet. Yes, really. Led by Multicoin Capital (aka the early Solana hype machine), plus Galaxy Digital and Jump Crypto, the deal instantly turned a sleepy backwater stock into the mall kiosk of crypto treasuries. Shares spiked 128% pre-market before collapsing back to a still-insane +67% on the day. Mind = blown. 

(Source: Giphy) 

In short, Forward Industries is set to plow the cash pile into Solana, stack tokens until they’re competing with Upexi and DeFi Development Corp., and slap “largest Solana treasury” on the investor deck. At $1.65B, Forward leapfrogs every other publicly traded SOL hoarder and puts itself on par with some of the biggest institutional Ethereum and Bitcoin treasuries. If you’re keeping score, Upexi’s 2 million SOL bag is worth $430M. Meaning, Forward is coming in with nearly 4x that firepower… that is, assuming they don’t vaporize it all in DeFi “yield strategies” gone wrong.

(Source: Decrypt) 

Naturally, the suits are selling this pivot as a “long-term shareholder value” move. Translation: nobody was buying Forward’s legacy business, so let’s YOLO into Solana and pray the cycle holds. To make it sound legit, they’ve stacked the board with Kyle Samani as chair, plus Galaxy and Jump guys sitting in as “observers” (lol). Galaxy will provide trading and staking infrastructure, Jump will flex its Firedancer validator, and Multicoin will keep tweeting about “Solana dominance.”

Investors, of course, are treating $FORD like it just became a meme coin proxy. It’s the same playbook we saw when random microcaps rebranded as “AI companies” or when Eastman Kodak pretended to launch a blockchain in 2018. Pump the ticker, chase the narrative, hope retail doesn’t read the footnotes.

(Source: Giphy) 

Which means, if you buy $FORD here, you’re basically buying a leveraged Solana ETF that forgot to register as one. The stock’s gonna trade less on fundamentals and more like a casino chip tied to whether SOL keeps ripping past $200. Best case, Forward becomes the MicroStrategy of Solana and Kyle Samani gets to be a Michael Saylor with better hair. Worst case, this ends like every other PIPE-funded pivot… insiders cash out and bagholders are left explaining to their spouses why their retirement fund is now denominated in JPEG money.

Regardless, Forward just hit the big red button marked “YOLO Treasury Pivot.” And judging by today’s volume, plenty of gamblers are here for the ride. Place your bets accordingly, friends. Until next time… 

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.