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Electric vehicle stocks rally ahead of Tesla's earnings report – Seeking Alpha

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Nikada/E+ via Getty Images

Nikada/E+ via Getty Images
The electric vehicle sector is pushing higher after a big earnings report from Microsoft appears to have helped overall market sentiment.
Top gainers in early trading include Workhorse Group (WKHS +8.7%), Luminar Technologies (LAZR +11.1%), TuSimple (TSP +8.8%), Proterra (PTRA +6.4%), QuantumScape (QS +6.6%), Rivian Automotive (RIVN +2.6%), Lightning eMotors (ZEV +4.7%), Nikola (NKLA +4.4%) and Faraday Future Intelligent Electric (FFIE +4.2%).
The boost in confidence in EV names arrives just ahead of Tesla’s (TSLA +2.9%) earnings report after the closing bell. The electric vehicle juggernaut is expected to update on the gigafactories in Austin and outside Berlin, alongside its Q4 numbers. Elon Musk and team could also be more specific on the deliveries expectations for 2022 after issuing general guidance in the past for 50% average annual deliveries growth. Also keep an eye on Bitcoin (BTC-USD) if Tesla reveals any change in its crypto position or mindset on the balance sheet holding. Dig into the Tesla earnings preview.