Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of movie technology specialist IMAX (Nasdaq: IMAX) were fading to black today, falling as much as 11% in intraday trading on heavier-than-average volume.

So what: Research firm Stifel Nicolaus lowered the boom on IMAX today by dropping its price target for the stock from $32 to $27. The Stifel analyst suggested that there was too much optimism regarding the back half of the year and thinks that results are going to disappoint the market.

Now what: I'm a pretty simple investor and though I recognize that sometimes you have to pay up for growth, I tend to like stocks with cheap price tags. Even after today's drop, a cheap price tag is one thing that IMAX doesn't have -- at least in my view. The stock has, however, been a longtime, high-return pick from the growth-oriented Fools over at Rule Breakers. And with cumulative performance since 2004 that's topped the S&P 500 by 60%, I'm inclined to think those Fools know how to pick great growth stocks.

Want to keep up to date on IMAX? Add it to your watchlist.