IMAX's $47M Weekend: The Odyssey China Debut Sets Records, Cumulative Gross Hits $346M
IMAX has more than doubled off its 52-week low of $25.06.
Summary
IMAX posted a $47M global weekend, powered by The Odyssey's $13M China opening — the biggest IMAX debut ever for a Nolan film in that market, with IMAX capturing 53% of the film's China gross on just 1% of screens. The film's cumulative IMAX gross now stands at $346.4M, extending its record as the highest-grossing IMAX release of all time. This follows a string of record weekends and the company's highest-grossing month ever in July. The China strength is notable: IMAX China has already delivered its highest-grossing August ever, and the film runs through at least mid-September, suggesting continued upside. With the stock trading near its 52-week high and a potential sale exploration reported in May, sustained box office momentum reinforces the bull case.
At the time of this announcement, IMAX was trading at $52.27 on NYSE in the Trade & Services sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $25.06 to $54.27. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.