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Facebook IPO: Stock Could Double Amid Street Excitement

New developments involving the , are triggering almost giddy excitement on the Street in anticipation of the offering.

Trader Steve Grasso works on the floor of the NYSE and he tells us, on the floor, “you can really feel the excitement. The Street is humming with anticipation.”

Grasso thinks that recent declines in Apple, Google and other Internet stocks are due a growing interest in the Facebook IPO. “I think institutional investors are selling to make room for Facebook in their portfolios.”

And now those big investors have a sense of what they will have to spend.

On Thursday, Facebook priced its initial public offering between $28 and $35 a share.

“I think the stock could double – it could be crazy,” says Grasso. "There’s that much buzz that people are going to trip over themselves to get in.”

Top hedge fund manager Anthony Scaramucci says much the same. “There’s a lot of interest in this stock. I agree that a whole train of investors will pile on in the first few days.”

Scaramucci compares the excitement to something you might see outside a hot New York City nightclub. "It’s just like being behind the red rope and not getting into the nightclub – all you want to do is get in. Facebook is going to trade to a huge premium,” he says.

Trader Joe Terranova doesn’t like what he’s hearing. “It feels to me like euphoric enthusiasm and typically that signals a top,” he says.

Terranova adds that if money rotates out of Apple and into Facebook, “I’d buy Apple on the decline, rather than pay up for Facebook. Apple has much better earnings growth potential.”

In case you’re among the throngs looking to buy Facebook, the company plans to list its stock on the Nasdaq under the ticker "FB"  and it's expected to trade beginning on May 18th.

If the stock prices at the high end, Facebook's market cap will total $95 billion, rivaling's and Cisco market caps of just over $100 billion and surpassing those of older technology companies such as Hewlett-Packard and Dell put together.

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Trader disclosure: On May 3, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova is long VRTS; Terranova is long MCD; Terranova is long JPM; Terranova is long UPL; Terranova is long CHKM; Terranova is long HPQ; Terranova is long LQD; Finerman’s firm is long AAPL; Finerman’s firm is long BAC; Finerman’s firm is long WMT; Finerman’s firm is long TGT; Finerman’s firm is long HPQ; Finerman’s firm is long PLCM; Finerman is short (AAPL) calls; Finerman is long BAC; Finerman is long RIMM calls; Finerman is long HPQ; Finerman is long PLCM; Finerman has (FSLR) puts; Nations is long SPY; Nations is long BAC; Nations is long C; Baker is long NFLX; Baker is long JPM; Baker is long APPL

For Anthony Scaramucci:
Scaramucci is long AAPL
Scaramucci is long C
Scaramucci is long GS
Scaramucci is long NFLX
Scaramucci is long IBM
Scaramucci is long WMT;
SkyBridge Capital Is A Fund Of Funds Manager
Anthony Scaramucci is one of 8 national finance chairs for Mitt Romney campaign
Scaramucci a fundraiser for Mitt Romney and has contributed to the Romney campaign

For Josh Feinman
No disclosures

For Meyer Shields
I, Meyer Shields, certify that the views expressed in this research report accurately reflect my personal views about the subject securities or issuers; and I, Meyer Shields, certify that no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views contained in this research report.
Stifel, Nicolaus & Company, Inc.'s research analysts receive compensation that is based upon (among other factors) Stifel Nicolaus' overall investment banking revenues.

For Gene Munster
Piper Jaffray was making a market in the securities of Apple, Inc. at the time this research report was published. Piper Jaffray will buy and sell Apple, Inc.

For James Altucher
No disclosures with wires.