Friday, May 29, 2020

SHARES OF REAL-D AND IMAX PLUNGE

November 3, 2011 by · Leave a Comment 

Following reports that moviegoers were eschewing 3D screenings of Puss in Boots and The Three Musketeers last weekend (only about half were willing to pay the 3D surcharge) and that they were likewise failing to pay premium prices for IMAX screenings, both RealD, the principal maker of 3D theater technology, and IMAX saw their shares plummet in early trading today. IMAX, which reported net income for the quarter at $1.8 million, down 87 percent from the year-ago quarter, fell 17 percent in early trading before recovering most of its losses by midday. But RealD was down 22 percent at midday. It had dropped 13 percent on Monday on word that Samsung, the leading manufacturer of LCD screens, had decided not to go ahead with plans to turn out sets using RealD’s technology.