Shares of Tesla Inc. fell for a fifth consecutive session on Monday, caught in a tech-led selloff that has wiped more than $244 billion off the company’s market value over the last month. High-flying tech stocks, which powered the market’s rebound from the pandemic lows in March last year, have been hit by a one-two punch of rising yields and investors shifting funds to sectors poised to benefit from a recovery in the global economy aided by accelerated rollouts of COVID-19 vaccines. “People went into this stock super aggressively to drive it from $40 to $900, and that means will usually come out just as fast,” said Roth Capital Partners analyst Craig Irwin. “It was obviously overdone both at $200, and I would say well overdone at $900. Retail often doesn’t sell as fast as the institutions, so the correction could last longer than for other tech stocks.” The tech-heavy …
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