Acting on panic never helps investors, but it's still a good idea to question why you're really buying individual investments.

Consider giant screen technology firm IMAX (Nasdaq: IMAX). Though the movie industry is all abuzz about big screens, you'll find a few of the 1,311 Motley Fool CAPS members weighing in on the company offer reasons to be bearish.

Here at the Motley Fool, we like to consider both the good and bad sides of an investment, so in this article, so I'm highlighting three of the main bearish arguments on IMAX today. Be sure to read the bullish side as well, and then weigh in with your own comments below or rate IMAX in CAPS.                                             

1. Shares overheated
With the anticipation of more hit film releases from studios such as Disney (NYSE: DIS) and Time Warner's (NYSE: TWX) Warner Bros., IMAX's shares have already put up huge gains over the past year, but the trend has been nothing but down in the past few months. Some CAPS members think IMAX's shares may have trouble getting back on track, despite the company's expansion initiatives.   

2. High ticket prices
Exhibitors such as Regal (NYSE: RGC) and AMC have been ratcheting up their ticket prices for IMAX and 3-D movies as a few theatres in New York recently charged close to $20 for IMAX tickets during the week of DreamWorks' Animation's (Nasdaq: DWA) recent Shrek release. With consumers still cautious of discretionary spending -- and cheaper alternatives like Netflix' (Nasdaq: NFLX) greatly expanding streaming content and Coinstar's (Nasdaq: CSTR) Redbox $1 a night DVD rentals -- some investors are concerned that audiences may have reached a limit on premium ticket prices and start balking at the price.

3. Follow the insiders
As IMAX's shares have soared higher this year, insider sales activity has also picked up, which at least gives pause to the argument that things at IMAX will get better from here, not worse. While it's not a definitive indicator that things are going south, some investors become edgy as some key people close to the company lessen their stakes.

To see details of what CAPS members are saying now about IMAX, just click on over to Motley Fool CAPS and have a look -- or add your own thoughts directly to this story in the comments box below.