IMAX shares soar as Nolan's "The Odyssey" sets new monthly record

IMAX stock jumped nearly 5% after the company reported its highest-grossing month ever, driven by Christopher Nolan’s film "The Odyssey".

IMAX reported that July was its most profitable month since the company began operating 50 years ago, generating $257 million in worldwide box-office receipts. Christopher Nolan’s "The Odyssey" accounted for $221 million of that total, making it the fastest IMAX release to surpass $200 million in global earnings. Chief executive Rich Gelfond described the movie as a unique cinematic achievement whose box-office trajectory continues to defy expectations.

Following the announcement, IMAX shares climbed 4.9%, hitting a record high of $50.72 before closing slightly above $50. The company highlighted that the film has not yet been released in China, Japan or South Korea, markets that could add to its momentum. Only 25 U.S. venues can show the movie in the 70 mm IMAX format, leading to sold-out screenings and early-morning showtimes. The strong performance underscores the financial impact of blockbuster releases on specialty cinema formats.