"Wood Sister" sells Tesla stocks on Monday, estimated to cash out $29.67 million.

"Wood Sister" Cathie Wood and her flagship Ark Investment Management continued to reduce their holdings of Tesla stock and cash out, while Tesla's stock price hit a new all-time high on Monday. As of before the opening of the US stock market on Tuesday, Tesla was still in the buy range, but analysts have downgraded their expectations for Tesla's fourth-quarter vehicle deliveries. According to daily trading disclosure documents from exchange-traded funds under Ark Investment Management, Wood's flagship Ark Innovation ETF, Ark Next Generation Internet ETF, and Ark Autonomous Technology & Robotics ETF collectively sold 60,715 shares of Tesla stock on Monday, estimated at $29.67 million in cash. Tesla remains a major holding in Wood's ETFs under Ark Investment Management. As of Tuesday, Tesla accounted for 11.9% of the holdings in the Ark Innovation ETF, ranking first; 9.71% in the Ark Next Generation Internet ETF, also ranking first; and 12.5% in the Ark Autonomous Technology & Robotics ETF, firmly holding the top position in terms of holdings. Wood is a strong supporter of Tesla CEO Elon Musk's vision for autonomous ride-sharing. Ark Investment Management predicts that by 2029, Tesla's stock price will climb to $2,600, and the organization expects that by then, about 90% of Tesla's corporate value and earnings will come from the autonomous ride-sharing business. However, Wood has been consistently reducing her holdings of Tesla stock. In a recording on November 24 and in recent interviews, Wood stated that her funds have cashed in some profits from Tesla stock and "allocated some of those profits to the cryptocurrency space."