Back on September 21, I posted a Trade of the Day about Imax stock titled “Of Course We’re Making This Prediction.”

Here’s the backstory…

I started off that issue by asking you this question: Will you ever see a blockbuster movie in the theater again?

Most likely, you answered yes.

Then I said…

I’m willing to make the prediction that sometime in the future, we’ll all go to the movie theaters again and enjoy the next blockbuster Star Wars or Avengers movie. But here’s where I think we’ll see a subtle change. You see, going forward, I think going to the movies will be a bigger event than it was before COVID-19. In this new post-COVID-19 world, if you’re going to go through all the trouble, I think people will now start to “go big,” which could lead to a resurgence in Imax moviegoers.

Based on this view, I recommended getting positioned in Imax Corp. (NYSE: IMAX) going into 2021.

And here’s what happened today…

Imax Stock Takes Off

On the Pfizer vaccine news, Imax stock blasted 23% higher.

As I’m sure you know, Imax owns a network of 1,616 theater systems in 81 countries. The company owns all of the proprietary digital remastering (DMR) software to digitally enhance image resolution, visual clarity and sound quality of motion pictures for projection on its massive screens. It also designs, manufactures and installs all Imax theater projection systems.

Clearly, the COVID-19 pandemic crushed its business model. Back in late August, Imax reported an adjusted loss of $0.48 per share, which was far worse than the Zacks consensus estimate of a $0.12 loss per share.

But at the time, I thought picking up Imax stock at those lows was a bargain. In fact, I wrote, “When blockbuster movies return, Imax will benefit.”

And today’s promising vaccine news is a very big first step in restarting the moviegoing process.

Action Plan: If you’re holding Imax stock, take your profits. And if you want more of my top picks – delivered to you in video form every Wednesday afternoon – I invite you to join our new Trade of the Day Plus service.