Ark Investment Management, a unit of Cathie Wood, is selling its stake in Meta Platforms (META. O) for the first time in about a year and the latest sign of the ill-fated fortunes of big U.S. tech stocks. Wood's flagship ARK Innovation ETF sold 12,595 shares of Meta on March 17 and 2,160 shares on Tuesday, the first time the company has reduced its stake in the company since at least March last year. Ark funds owned more than 460,000 shares of Meta as of Dec. 31. They spent most of last year buying the stock. Wood's stake reduction highlights the pressure facing the tech seven giants, which have recently lost steam.