Can Movie Theater Stocks Keep the Barbenheimer Rally Going?
This was the weekend that multiplex operators have been waiting for. Not one but two huge films opened at the same time. There are also a couple of older movies with legs, something that has been rare in the post-pandemic era. The end result is that $302 million in tickets were sold domestically for the strongest weekend for the industry in more than four years.
Exhibitors can use the good news. In a year when many stocks are rallying, movie-related players outside of Cinemark (NYSE: CNK) are barely keeping up with the general market.
Shares of Imax (NYSE: IMAX) have risen just 12% this year, and the country's largest theater operator has fared even worse. The lone market-beater is Cinemark with its 79% year-to-date surge, but shares are still lower over the past year. If the summer closes out with the same kind of momentum that exhibitors experienced this weekend, it may not be only industry winner of 2023.
Source Fool.com
Imax Corp. Stock
With 29 Buy predictions and 1 Sell predictions Imax Corp. is one of the favorites of our community.
With a target price of 22 € there is a slightly positive potential of 16.4% for Imax Corp. compared to the current price of 18.9 €.
