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EMC boss offloads shares
Time to panic?

By Kate Hanaghan

Published: Wednesday 21 November 2001

A filing to the US Securities and Exchange Commission on Monday reveals that EMC's executive chairman is about to sell 224,000 of his shares in the company.

It's been three months since Michael Ruettgers made his last sale of EMC shares.

However, the company stated that if Reuttgers does not sell-up now, the stock options will expire.

Yesterday, the company's share price took a tumble of almost five per cent after a stark warning from an analyst to investors to be cautious as the company, which the analyst describes as an "800-pound gorilla", still faces a tough ride ahead.

Nevertheless, EMC has been identified by some as the company investors will rally to when the market makes a turnaround.