IMAX - Imax Stock Has a Lot to Prove This Week
2024-02-26 11:45:00 ET
If you like big films and you cannot lie, there's a pretty good chance that you've been to an Imax (NYSE: IMAX) screening. You'll pay a couple of bucks more than a traditional movie ticket, but the high-end mastering, supersized screen, and robust sound system make it an experience that one can't easily duplicate at home.
The one thing that isn't huge is Imax's share price. The stock is trading in the mid teens, 65% below the all-time high it hit nine years ago. In a rising market, Imax shares have fallen 9% over the past year. The recovery wasn't scripted this way. Movie theaters had their best year 2019 in terms of ticket sales. Why isn't Imax riding high? With the bar-raising innovator in theatrical experiences reporting financial results this week, it's time for a feature presentation that will likely move the stock one way or another.
There were $1.06 billion in Imax admissions sold worldwide last year, only the second time that the platform generated 10 figures worldwide. It doesn't mean that this is Imax's second biggest year in terms of actual tickets sold, as higher ticket prices on this end of the pandemic have helped lift box office receipts. Expansion over the years is also helping extend the brand's reach.
For further details see:
Imax Stock Has a Lot to Prove This Week