Ark Invest Sells $41M of Meta Shares After 17% Monthly Decline
Ark Invest sold nearly $41 million of Meta shares after Meta stock fell 17% over the past month, including a 10% decline following two social media addiction lawsuit defeats. Meta’s slump coincides with Ark reducing $26 million in Nvidia and trimming $11 million in its Bitcoin ETF holdings.
1. Ark Invest’s Meta Divestment
On Thursday, Ark Invest trimmed its position in Meta by offloading nearly $41 million worth of shares. This divestment represents one of the largest single-day reductions in Meta holdings by the firm this quarter.
2. Meta's Lawsuit-Driven Share Decline
Meta shares have fallen more than 17% over the last month, with a 10% drop in the past week after two social media addiction lawsuits ruled against the company for failing to protect young users. The legal setbacks intensified selling pressure among institutional investors.
3. Broader Tech Position Reductions
Alongside Meta, Ark cut $26 million in Nvidia shares and reduced stakes in Alphabet by $2.5 million and AMD by $7.5 million. These moves reflect a broader rebalancing away from high-growth tech names experiencing recent volatility.
4. Crypto Exposure Cuts
Ark also curtailed its crypto bets, selling $11 million of its spot Bitcoin ETF and divesting $6.5 million in Bullish exchange shares and $5 million in Block stock. The firm’s crypto holdings are now less than half of their peak allocation earlier this year.