The Facebook IPO price was set and the stock is ready to start trading – but will it live up to its hype or sharply sell-off?

The social media giant priced at $38 a share, the company announced after market close yesterday (Thursday).

That makes Facebook the largest tech IPO in history, valued at $16 billion.

It’s the third largest U.S. IPO ever, behind first place Visa at $19.7 billion and then General Motors, which raised $18.1 billion.

While the stock has created unrivaled investor frenzy, there is a wide range of predictions for how Facebook will do in its first trading day – and who the real winners will be.

“The ones who make out on IPOs are the early investors, venture capitalists, founders, and underwriters,” said Money Morning Chief Investment Strategist Keith Fitz-Gerald. “The public almost always goes along for the ride…whether or not they get taken for a ride remains to be seen.”

Where the cutoff is for considering the IPO a success varies – with many thinking anything below 50% would be a disappointment.

“I think anything over 50 percent will be considered a successful offering – anything under that would be underwhelming, Jim Krapfel, an analyst at Morningstar, told Reuters. “A lot of retail investors are not concerned about valuation. That’s what is going to drive the first day pop.”