Seeking Alpha
2022-01-26 15:29:07

Electric vehicle stocks rally ahead of Tesla's earnings report

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

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.