Tesla Stock Is Moving After Hours: What's Going On?

Tesla Inc TSLA shares are volatile in Wednesday's after-hours session following reports that CEO Elon Musk has identified a potential successor.

Tesla board member James Murdoch reportedly said Musk identified a potential successor over the "last few months" during a testimony, per Reuters. 

Murdoch was testifying Wednesday in a trial over Musk's 2018 pay package at Tesla. The potential successor was not named. 

According to a report from The Verge, in his pre-trial deposition, Murdoch said Musk had not brought up a specific successor but, in the intervening time, had done so.

Musk also reportedly told the court earlier in the day that he doesn't want to be the chief executive of any company. He currently sits at the helm of Tesla, SpaceX and the Boring Company. He also recently positioned himself as interim CEO at Twitter following his $44 billion takeover of the social media company.

See Also: Elon Musk Wasn't 'Punching The Clock:' Tesla Director Testifies On CEO's Time Commitment To EV Maker In $56B Pay Lawsuit

TSLA Price Action: Tesla has a 52-week high of $402.67 and a 52-week low of $177.12.

The stock initially traded down after hours before reversing and turning positive. It was up 0.26% at $187.40 at time of publication.

Photo: courtesy of Tesla.