Cathie Wood's flagship ARK Innovation ETF reduced its holdings of Meta stocks for the first time in nearly a year

Odaily Planet Daily News Cathie Wood's Ark Investment Management is reducing its holdings in Meta Platforms (META.O), the first time in about a year and the latest sign of ill-fated large U.S. technology stocks. Wood's flagship ARK Innovation ETF reduced its holdings of Meta shares by 12,595 shares on March 17 and 2,160 shares on Tuesday, the first time the company has reduced its holdings in the company since at least March last year. As of December 31, the Ark fund held more than 460,000 shares of Meta. They have been buying the stock for most of last year. Wood's reduction of shares highlights the pressure faced by the seven technology giants, which have lost momentum recently. (Jinshi)