Why Shares of Imax Climbed 20.8% in September
Shares of cinema company Imax (NYSE: Imax) rose 20.8% in September according to data provided by S&P Global Market Intelligence. The stock opened at $15.79 on Sept. 1 and closed at $18.98 on Sept. 30, the final day in the month that markets were open. It rose as high as $19.15 on Sept. 30 and is up more than 13% for the year.
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Investors are starting to see the giant projector light at the end of the pandemic tunnel for Imax. The company began the month with its biggest September weekend in global box office receipts, thanks to the release of Disney/Marvel's Shang-Chi and the Legend of the Ten Rings. Over the four-day Labor Day weekend, the company said it earned $13.6 million from the film and had total revenue of $16.8 million, its best weekend since the pandemic began.
Source Fool.com
