Investors Like IMAX (IMAX)

Shares of IMAX (

) rose nearly 7% today as investors gobbled up shares of the movie chain. Shares rose amidst an announcement that the company is going to participate in a joint venture. The rumor is that IMAX will join with movie operator Regal Entertainment to expand IMAX's reach. According to MarketWatch, "Imax will install an additional 16 to 25 new Imax screens at U.S. joint venture theaters. The joint venture intends to have 77 Regal Imax theaters in operation by the end of 2012." The stock clsoed the day at $18.02.