IMAX (IMAX) Shares Rising Amid Hot Weekend at the Box Office

Shares of IMAX Corp. (Nasdaq: IMAX) have jumped more than 8% this morning as traders are using a hot weekend for the movie industry as a reason to buy the stock today.

First, and probably affecting IMAX shares the most today, Tim Burton's Alice in Wonderland brought in a whopping $116.3 million this weekend. The film was released in both IMAX 3D and normal non-3D format and is seeing mixed reviews, although most moviegoers are calling the film a victory on a strictly visual basis.

Also at the box office, James Cameron's 3D-dynamo Avatar is still pulling in nearly $8 million 12 weeks after its initial opening weekend.

Movie buffs also were tuned into last night's Academy Awards where Hurt Locker cleaned-up with Best Picture, Best Director and Best Original Screenplay.

IMAX shares last traded at $14.89.

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