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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

'Fast Money' Recap: GM IPO Buzz

Stocks in this article: GM OIH XLF DRYS

Finerman said GM might face problems if inventory starts to build in its SUVs and trucks.

Eamon Javers, a CNBC reporter, said the IPO will be a good deal for the government, which will earn back half of what it put it in, while still retaining 400 million shares.

Ron Kruszewski, president and CEO of Stifel Financial, said the deal hasn't been a good deal for U.S. taxpayers who have been shut out of the allotment. He said his company, along with other large retail companies, have been excluded from the allotment.

Kruszewski said the government will still be in the hole for $10 billion at the end of the deal.

Gary Kaminsky said he has heard from sources that the stock could open at $36.

Terranova said the underwriters wanted the IPO in the "strong" hands of institutional investors so that the stock will have a better chance to appreciate. Grasso said those comments were contrary to those who believed hedge funds would be flipping the stock soon after the opening of trading. Grasso also it was an insult to retail investors.

Shifting to the cloud computing space, VMWare (VMW) CEO Paul Martiz said demand for virtualization software is still strong into 2011. Jon Fortt, CNBC tech correspondent, said the company is not seeing public sector weakness, a point Cisco (CSCO) noted in its earnings call.

On the prop desk, Kelly discussed how to trade in crude without investing United States Oil (USO). He said he would look at Oil Service HOLDRS (OIH) and Energy Select Sector SPDR (XLF).

In afterhours trading, Kelly said DryShips (DRYS) was up 6%. He said the company is in a good position because ultra-deep shipping rates have bottomed and that demand is expected to outstrip supply in 2011.

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