RUMOR: Facebook IPO filing to come this week

According to The Wall Street Journal, the hottest social media IPO of all time could be filed as early as Wednesday, and Twitter is already on fire with the gossip. It isn’t a sure thing; the Journal says that “timing is still being discussed.”

The projected valuation range is $75 billion to $100 billion, which comes in a bit lower than earlier rumors, which pegged the company at the high end.

While the race to be Facebook’s stock exchange is still said to be a dead heat, the frontrunner in the push to be Facebook’s lead investment bank is Morgan Stanley, which is edging out Goldman Sachs for the top spot in a deal where banking fees could exceed $200 million.

Facebook has already engaged The Brunswick Group to help with the IPO, the same firm that Groupon used.