Shares in Imax surged after China's Lunar New Year holiday propelled tentpoles like Detective Chinatown 3 and Hi, Mom to blowout box office performances.
Market analysts and beleaguered North American exhibitors are watching China's holiday opening weekend this year for signs of an eventual full recovery globally from the COVID-19 pandemic.
On Tuesday, Imax stock rose 8 percent to $20.05 in mid-morning trading on the New York Stock Exchange, after hitting a new 52-week high of $20.47 following the market open.
Analysts cited the strong Chinese Lunar New Year opening weekend as boding well for Imax as it looks to a box office rebound in its global circuit from the COVID-19 crisis later this year and next.
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