Why Cinemark Blasted Almost 9% Higher Today

What happened

This past weekend was a good one for cinema operators, but not for the reasons one might expect. As a result, Cinemark Holdings (NYSE:CNK) was a popular stock Monday, rising to end the day 8.6% higher.

So what

The weekend’s box-office champion for the second time in a row was the latest effort from Walt Disney’s (NYSE:DIS) Marvel Studios, Shang-Chi. The superhero action film took in nearly $36 million domestically over the weekend — well outpacing the $5.8 million of the No. 2, Free Guy — pushing it over the $100 million mark in only its second week of release.

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