I'm feeling quite hopeful about the movie industry. Having stock in AMC made me think about finding a more relatable company that does more than simply house in seats for the newest movie. This led me to doing some research on IMAX. I bought in at $14.77 after reading their recent quarter reports. Some of the things I like about the potential upswing or hike in value in years to come:
1. Expansion - They are stretched between 82 countries with China being its strongest market. 2. 73% of it' network is based in International Markets. Tells me that there is some sustainability with COVID going on since different countries are handling it different. 3. Release of IMAX Enhanced which helps the streaming momentum that has taken place. 4. 10 IMAX systems signed in 3rd Q 2020 despite theatre closings. 5. 23 new installation in Q3 2020. 6. The fact that they have more than just one product line. They aren't only about housing seats. They work with the industry itself and has the innovative technology that filmakers need in this industry.
I took a chance on this....bought 1 share but I can see price hitting $20-$26 dollars which would mean that it will have tested the resistance zone #1. Reaching resistance zone #2 would be a miracle.