Facebook Denies 'Screwing Wall Street'
In a previous version of this article, Fox Business Network was referred to as Fox Business Channel. TheStreet regrets this error.
NEW YORK (TheStreet) -- Facebook (FB) isn't making any friends on Wall Street with its recent share price performance, but its COO isn't out to get those on the Street either.
Or is she?
Chief operating officer Sheryl Sandberg was reported to have to said that the reason Facebook's IPO performed so poorly was that the company wanted to "screw Wall Street traders," according to a tweet from Fox Business Network reporter Charlie Gasparino.
A Facebook spokesman denied the report and said it never happened. "Completely untrue," a Facebook spokesman said in an email to TheStreet. Facebook has had its issues with the IPO, which was priced at $38. Since then, shares have dropped almost 50% from their issue price. The company recently reported first-quarter results that failed to impress Wall Street or investors. Shares of Facebook bucked the broader market on Thursday, gaining 0.63% to $19.56. Interested in more on Facebook? See TheStreet Ratings' report card for this stock. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_BullSelect the service that is right for you!
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