The Regal Irvine Spectrum has reopened with a new high-tech look including the dramatic hallway lighting leading to the IMAX theater on September 17, 2020 in Irvine, California.
Gina Ferazzi | Los Angeles Times | Getty Images
Theaters are coming off their best weekend since the pandemic hit the U.S., with the success “A Quiet Place Part II” helping the industry generate more than $100 million over four days. The move made $5.3 million at Imax alone, according to the theater company.
However, analyst Michael Ng downgraded Imax and Cinemark to sell from neutral, saying in a note to clients on Wednesday that the stocks appeared overvalued and investors should look for entertainment exposure in other sectors.