I think this makes a lot of sense from a commercial POV.
47 Meters Down is Entertainment Studios' biggest movie till date and it had fantastic WoM so a sequel has potential at the domestic BO.
It's also one of the most glaring anomalies of CinemaScore's effect on a movie's legs at the BO. IIRC, 47MD got a 'C' and yet it achieved a 3.96 multiplier.
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