Imax Corp (USA)(IMAX) Shares Pop on Cineplex Deal

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Imax Corp (USA) (NYSE:IMAX) shares soared yesterday as the company inked a deal with Cineplex.

Imax Corp (USA)(IMAX)The company announced that it is expanding its virtual reality business by opening a VR center in Toronto, Canada. Imax will also be adding special auditoriums for its top-tier cinematic viewing experience in Toronto and Regina.

It’s been a difficult time for theaters in North America due to the rise of on-demand online streaming services that have made people realize how easy it is to watch a film from home. Plus, it’s considerably cheaper.

Nevertheless, going to the movies is still one of the great human experiences that allow you to step outside your comfort zone, enter a large, dark room full of strangers and enjoy something new.

Imax expands on this philosophy by offering you a full-fledged cinematic show which includes better-quality image, larger screens, a better audio system, and even movement in the theater that adds to the intrigue and thrill of films.

In some cases, these shows are even in 3D. The new element of watching movies is virtual reality, where the viewer feels as if they are actually in the film. Imax opened its flagship VR store in Los Angeles in January, followed by one in New York City.

The company hopes to open eight more centers in North America, Western Europe and Asia in 2017.

IMAX stock surged 4.1% Thursday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/08/imax-corp-usaimax-cineplex/.

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