Why Cathie Wood Just Dumped Tesla for This Hot EV Stock

Famed investor Cathie Wood is a bull on electric vehicles (EVs), as the industry fits her policy of investing in disruption and innovation growth stories, including autonomous technology. In a recent interview with Barron's, Wood even predicted EV sales to grow from 4.8 million units in 2021 to 40 million units in 2026.

Wood owns several EV stocks, but the one that's stood out so far is industry leader Tesla (NASDAQ: TSLA). Tesla is, in fact, Wood's largest holding -- the stock constituted 7.54% across all of Ark Invest's family of exchange-traded funds (ETFs) as of March 28.

Yet, that's after Wood sold nearly 146,000 shares in Tesla on March 25. The last time Wood sold Tesla shares was in January.

Source Fool.com