Forge Global Holdings stock surges after report it's exploring a sale

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Forge Global Holdings stock jumped as much as 11% in Monday trading after a media report said it's exploring a sale after its market cap plunged and as its cash holdings declined.

The company, a platform for trading stakes in private startups, is working with investment bankers at fintech specialist Financial Technology Partners on a possible sale of the company, the _Financial Times_ reported, citing people familiar with the matter.

Forge Global went public in 2021 at the height of the pandemic-driven tech boom, garnering a $2B equity valuation in a reverse merger with a blank-check company [https://seekingalpha.com/news/3739004-forge-global-to-combine-with-spac-motive-capital-valuing-company-at-2b]backed by Motive Partners. Since then, its market valuation has slumped. From Aug. 5, 2025 to Oct. 24, 2025 alone, Forge's (NYSE:FRGE [https://seekingalpha.com/symbol/FRGE]) market cap sank 45% to $226.0M, limiting its ability to raise cash by issuing new shares.

Meanwhile, its cash and short-term investments slid to $80.7M at June 30, 2025, from $193M at the end of 2022.

Forge Global (NYSE:FRGE [https://seekingalpha.com/symbol/FRGE]) is expected to attract attention from competitors as well as large financial companies, including Wall Street investment banks, such as Morgan Stanley (MS [https://seekingalpha.com/symbol/MS]), that want to diversify from their public markets exposure, the people told [https://www.ft.com/content/9e865858-c0eb-4c73-9185-db9f49ea9978]the _FT_. People familiar with the process said a deal could be announced in coming weeks.

MORE ON FORGE GLOBAL

* Forge Global: Favorable View Of Bank Alliance And Profitability Prospects [https://seekingalpha.com/article/4825941-forge-global-favorable-view-of-bank-alliance-and-profitability-prospects]
* Forge Global Holdings, Inc. (FRGE) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4806366-forge-global-holdings-inc-frge-q2-2025-earnings-call-transcript]
* Forge Global outlines accelerated path to adjusted EBITDA breakeven in 2026 while launching next-generation platform [https://seekingalpha.com/news/4474756-forge-global-outlines-accelerated-path-to-adjusted-ebitda-breakeven-in-2026-while-launching]
* Forge Global Non-GAAP EPS of -$0.99 beats by $0.06, revenue of $27.6M beats by $6.34M [https://seekingalpha.com/news/4474178-forge-global-non-gaap-eps-of-0_99-beats-by-0_06-revenue-of-27_6m-beats-by-6_34m]
* Seeking Alpha’s Quant Rating on Forge Global [https://seekingalpha.com/symbol/FRGE/ratings/quant-ratings]