Despite regaining some of Friday's losses later in the session, the FTSE 100-listed company, which specialises in copper, coal, nickel and zinc, is down over 20 percent on the week and 65 percent on the year.
Sources told CNBC that other market rumors had also temporarily pushed the share price lower.
A spokesperson for Glencore told CNBC that the rumors were "dangerous", "utter rubbish" and "that hedge funds were spinning" the speculation.
Glencore shares took a hit on Tuesday when Credit Suisse slashed its earnings estimates for the metals and mining sector, as well as it forecasts for China demand and commodity prices.
Glencore took a further hit on Thursday when Goldman Sachs said the company's steps to reduce debt and bolster its balance sheet were inadequate. The investment bank lowered its share-price target on Glencore to 130 pence from 170 pence. It kept its rating on the Anglo-Swiss company at "neutral" but forecast continued volatility in its stock price.