EV stocks surge amid Monday’s market rally
honglouwawa

EV stocks were among major gainers on Monday ahead of a hotly anticipated earnings release from Tesla (NASDAQ:TSLA) due in mid-week.
Rivian Automotive +9.58%, Lucid Group +8.89%, Faraday Future (FFIE) +24.53%, Canoo (GOEV) +5.24%, and Fisker (FSR) +5.6% were among notable gainers on the day. In terms of Nasdaq stocks, Tesla (TSLA) +5.94% trailed only surging semiconductor leaders in terms of gains on Monday. 
The jump for many of the names adds to a 2023 rebound for much of the sector after steep declines in 2022 and an inauspicious start to the year for Tesla (TSLA) in particular.

Additionally, Chinese EV leaders are ringing in the year of the rabbit with notable gains. Nio (NIO) +9.3%, Li Auto (LI) +6.37%, and Xpeng (XPEV) +8.9% each drove higher on Monday. The rise for the Chinese manufacturers comes despite a deepening price war between major manufacturers in the country, including Tesla.
EV charging stocks, including ChargePoint Holdings (CHPT) +4.19%, Blink Charging (BLNK) +4.24% and EVgo (EVGO) +17.76% also rose sharply on Monday as well. It is worth noting that short interest in the EV charging sector is particularly elevated. Seeking Alpha data indicates that short interest in ChargePoint Holdings (CHPT), Blink Charging (BLNK), and EVgo (EVGO) stands at 18.15%, 33%, and 36.29%, respectively.
Read more on the rally kicking off a busy week for earnings.