Avatar film a hit with IMAX investors
Stock at 5-year high
by David Pett
Boffo box office for the new 3D movie Avatar is giving shares in IMAX Corp. another leg up in what has already been a impressive turnaround year for a company that not too long ago was largely written off by investors.
"The combination of digital technology and management foresight saved this company," said James Marsh, Piper Jaffray analyst based in New York.
"For a while, it was very touch and go for shareholders, but now the business is working well as demonstrated by the box office every day. I think their problems are in the rear view mirror."
On Tuesday, IMAX released its latest figures for Avatar, that showed the new science fiction flick from Titanic director James Cameron grossed about US$8.8-million from Dec. 25 to 27 in 179 IMAX theatres in the United States.
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