With Marvel spiking higher Monday, should you bet on more gains ahead?
This weekend was just the beginning of Hollywood's Iron age. Marvel Studios announced Monday it will release "Iron Man 2" on April 30, 2010, following the success of the first in the comic-book franchise, which pulled in $104.2 million domestically since opening last Thursday and $201 million worldwide.
Iron Man is the first release from Marvel studios, which is now financing and producing its own movies, explains CNBC Media Reporter Julia Boorstin on "Closing Bell." It’s a big departure from the company's old strategy of licensing or co-financing with studios.
Marvel hopes retaining control will help it reap more benefits from its films' success. On the heels of better than expected earnings this past quarter the company raised guidance for the rest of the year expecting to benefit from dropping their toy operations and focusing more on licensing.
I like Marvel stock, adds Pete Najarian, but I think right now you’d be chasing it. I recommend being a little patient and wait for a pull-back.
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