Facebook IPO, Nasdaq

Emmanuel Dunand Getty Images Facebook

The selloff in Facebook shares deepened on Tuesday, as investors continued to question the stock’s valuation after Reuters reported that underwriters cut their revenue forecasts for the company before the IPO.

Facebook’s shares [FB  32.4897    -1.5403  (-4.53%)   ] hit a low of $30.98 on Tuesday, 8.9 percent below Monday’s close, and a loss of 18 percent from their $38 IPO price.

At the low, the stock had lost 30 percent from an intraday high of $45 hit shortly after trading started on Friday. [read]

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