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wsj<>In Facebook IPO, Frenzy, Skepticism

Updated May 15, 2012, 4:11 a.m. ET


Facebook Inc.'s FB 0.00% coming initial public offering has set off a frenzy of anticipation among Main Street and Wall Street investors desperate to get their hands on the stock.

Late Monday, the social network raised the price range for its IPO to $34 to $38 a share, from $28 to $35 a share, said a person familiar with the matter, in a sign of investor appetite for the offering. The Menlo Park, Calif., company's initial price range put Facebook's valuation at $77 billion to $96 billion, but that rises to $93 billion to $104 billion under the new price range, said the person familiar with the matter, as investor interest ramps up.

Those numbers have created high hopes for both individual and professional investors. The excitement has drawn in fledgling stock buyers such as 11-year-old Jade Supple of Rockville Centre, N.Y., whose father plans to bet money saved to put his daughter through college on Facebook shares, although he has doubts about the price.

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