Monday, February 15, 2021

IMAX China Stock Soars 88%

We have the first good indication of what the post-COVID-19 world is going to look like in China.

Imax China Holding Inc. led a rally in Chinese entertainment stocks after data showed box-office revenue hit a record high during the Lunar New Year weekend.

Imax China surged by as much as a record 88% in Hong Kong on overnight, while Alibaba Pictures Group Ltd. jumped 22% and Maoyan rose 25%, according to data compiled by Bloomberg.

Ticket sales for the first five days of the Lunar New Year holidays touched 5.7 billion yuan ($880 million), surpassing figures for the same period in 2019, according to Maoyan Entertainment, with Chinese films emerging as the top contributors, Bloomberg reports.


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