Ha... I blew this one with my last pick.
That being said, no new idea works like an old idea. Imax had ditched the sad plan of selling out. Set some money on this short term in preparation for the following:
Last quarter they did not close a single deal. Mostly, I think, because they were focused on selling the business and not doing business. They will have a lot of hanging deals that get closed this quarter, this will make it look like a major improvement in their business. (not really)
Management will want to show the world that they are now "serious" about the prospects of the company going forward. I see some recovery that scares the hell out of the shorts and causes a real long opportunity.
I think this is good short term up to 6 or maybe even 7. I will probably dump my shares when the recovery hits those levels. I don't trust management going forward past the next couple months.
But... I'll still see the best movies at the Imax theaters. ;-)
-Don
$3.86 (01/30/07)
