MCS - Amid cinema sell-off IMAX chief says AMC's 2021 surge is good for business

JHVEPhoto/iStock Editorial via Getty Images Movie theater stocks today are selling the news that Black Widow (DIS +2.3%) lit up the box office with a $80M domestic opening, a record for the pandemic era. After the industry's first $100M weekend since March 2020 closings, AMC Entertainment (AMC) is 7.6% lower (that following its busiest weekend of the pandemic era). And elsewhere among exhibitors, Cineworld (CNNWF) is 8.6% lower; Cinemark (CNK) -6.2%; [[IMAX]] -3.8%; Marcus (MCS) -2.3%; Reading International (RDI) flat; Cineplex (CPXGF) +0.8%; and National CineMedia (NCMI) -7.3%. AMC's 7%-plus drop today isn't making much of a dent in a 2021 performance that is 2,000% higher; the stock closed at $2.12 on Dec. 31 and is sitting at $42.66 now. And one rival says that outlier stock surge is good for its business as well. “AMC is our partner, not our competitor,” IMAX CEO Richard Gelfond tells CNBC. “I think

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Amid cinema sell-off, IMAX chief says AMC's 2021 surge is good for business