Facebook shares pummeled again

Facebook sank again Tuesday, with sellers pushing the price of its newly listed shares down more than 5.0 percent in opening trade.

On the second full day of trade after its much-anticipated Friday debut, 20 minutes into trade the shares were at $31.92, down from Monday's close of $34.03 and 16.0 percent lower than the IPO price of $38.00.

Analysts blamed the underwriters, especially lead banker Morgan Stanley, for encouraging the social networking giant last week to increase the price and the offering size to 421 million shares, making the $16 billion IPO the country's second largest ever -- but apparently more than the market could stomach.