IMAX is trading 4.2% down today at $38.92, in a move that appears to be driven by profit-taking after a significant rally. The decline comes despite positive company-specific news being released.
- Today, IMAX announced an agreement with Georgia Theatre Company for five new IMAX with Laser locations across the southeastern United States.
- The stock rallied sharply in the prior days, fueled by a record Memorial Day weekend box office for 'The Mandalorian and Grogu' and reports that the company is exploring a potential sale.