Tesla Stock Is Up Sharply After Car Maker Slams 'Completely False' Claims in Recall Petition

Tesla shares are up more than 6% on Tuesday after the company insisted that its electric cars do not accelerate unintentionally.

Tesla stock has been on a tear recently, more than doubling in the past three months, compared with the S&P 500 index’s 10% gain over the same time.

Tesla’s comments came in response to a safety petition introduced by an investor, Brian Sparks, who is shorting Tesla stock. The petitions calls for Tesla cars to be recalled. On Friday, the National Highway Traffic Safety Administration said it would review the petition.

The petition’s claims are “completely false,” Tesla said in a statement posted on its website. “We investigate every single incident where the driver alleges to us that their vehicle accelerated contrary to their input, and in every case where we had the vehicle’s data, we confirmed that the car operated as designed.”

https://www.barrons.com/articles/tesla-stock-is-up-sharply-after-car-maker-slams-completely-false-claims-in-recall-petition-51579620841

Looks like someone was trying to manipulate Tesla's stock price because he's getting clobbered by his short selling.