IMX - Imax Corporation (Toronto Stock Exchange)

Description

IMAX Corporation together with its wholly owned subsidiaries, is an entertainment technology companies, specializing in motion picture technologies and presentations. The Company’s principal business is the design and manufacture of digital theater systems (IMAX theater systems) and the sale or lease of IMAX theater systems. The Company is also engaged in the production and distribution of original large-format films, the provision of post-production services for large-format films, the conversion of two-dimensional (2D) and three-dimensional (3D) Hollywood feature films for exhibition on IMAX theater systems worldwide, the operation of four IMAX theaters and the provision of services in support of IMAX theaters and the IMAX theater network worldwide. As of December 31, 2010, the IMAX theater network had 518 theater systems (396 commercial, 122 institutional) operating in 46 countries.

Taking it on the chin today, -6%

Rough -20% hit for longs that chased it at the highs.

Longs want to make sure it holds above $28 support, if not, lighten up those positions.

Good bounce off the $18 level last week, uptrend is pushing higher another 6% today

Big day for Imax, sold break above $22 with a +10% move to $24.45

Imax Corp. (IMX), the maker of giant- screen movie-projection systems, rose to a six-month high today after saying box-office revenue increased 45 percent this year through Feb. 12 from the same period in 2011.

Imax shares surged 11 percent to C$24.45 in Toronto after the Mississauga, Ontario-based company said worldwide receipts at Imax cinemas totaled $55 million. About half of the sales came from the Tom Cruise movie “Mission: Impossible - Ghost Protocol,” which has grossed $70 million at Imax theaters since its release in December.