Date: 26th January 2001
Shares in Toronto-based Imax took another beating Thursday after the company predicted that losses would rise this year due to the failures of several U.S. theater chains. In a statement, co-chairmen Bradley Wechsler and Richard Gelfond said: "Imax's results in 2000 were negatively impacted by difficulties in the commercial theater market, which continue to impact earnings and will, we believe, have a continued impact on results for the next 12 months or so." Imax shares traded as low as $3.75 on the NASDAQ Thursday and continued to erode in early trading this morning (Friday). They traded as high as $29.44 last August.
Source: Studio Briefing
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