Ark Investment Reduces Meta Platforms Holdings Amid Tech Stock Challenges

According to PANews, Ark Investment Management, led by Cathie Wood, has begun reducing its holdings in Meta Platforms (META.O) for the first time in about a year. On March 17, Ark's flagship ARK Innovation ETF sold 12,595 shares of Meta, followed by an additional 2,160 shares on Tuesday. This marks the first time since at least March of the previous year that the company has reduced its stake in Meta. As of December 31, Ark held over 460,000 shares of Meta, having spent much of the last year acquiring the stock. Wood's decision to sell highlights the pressures facing major U.S. tech stocks, which have recently lost momentum.