'The Odyssey' fuels Imax stock to all-time high. CEO calls momentum a 'flywheel'

Imax is on a winning streak, and it has Christopher Nolan to thank.Shares of the entertainment technology company hit an all-time high Monday as it continues to haul in box office receipts from Nolan's "The Odyssey." Imax CEO Rich Gelfond said Monday the film is tracking almost double what Nolan's "Oppenheimer" raked in in 2023. "The guy's a genius. How do you thank a genius? You work with him again," Gelfond told CNBC's "Squawk on the Street." This is like the eighth film we've done with Chris." But Gelfond said the company's success — including its best month of July on record — is about more than the box office: "It's a flywheel." "We're opening more theaters, we're installing more theaters, our recurring cash flow is greater, our cash conversion rate is higher," he said. "So, it's really based on the fundamentals."Gelfond noted that Monday's nearly 6% stock jump was partially a response to another big box office weekend for the company. Imax posted its third weekend in a row of more than $50 million in global ticket sales, and sustained demand could extend the streak. In total, the company has generated $221 million in global box office from "The Odyssey," representing nearly 2...