Going to the movies, again.

This is NOT another post on Hollywood Video!

It is about Imax (IMAX), owner of the theater chain that promises a 3D experience. Imax was rumored to be a takeover target this week and it is now trading at $11.30/share.

I started buying Imax purely as a value play and paid an average of $5.7/share over the last year. I had accelerated the buying after Imax reported that its recent opening of new theaters in India was very well received. If there is one place where movie theaters can make money, it is in India. While this news largely went unreported, I started seeing Imax as an indirect India play - there are a few others that fall into that category, and I will make another entry soon on what makes up that list.

But for now, if Imax gets acquired, I will be making a 100% gain. I won't be complaining!