The Wall Street Journal reported on Wednesday that board members began searching for a new CEO amid Tesla's stock slump.

Earlier on Wednesday evening, the Wall Street Journal reported that concerns about Tesla’s plunging stock prompted board members to hunt for a successor to CEO Elon Musk.

Tesla has hit back following a Wall Street Journal report that its board had initiated a search for a new CEO to replace Elon Musk, taking to Musk’s social platform X to call the claim “absolutely false.