AMC Entertainment stock fair value estimate cut to $15 from $19 at MKM Partners

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AMC says its Stubs A-List rewards program has more than 600,000 members

AMC Theaters said Wednesday it now has more than 600,000 members for its Stubs-A-List rewards program, which allows consumers watch up to three films a week. The program, which was launched in June, has exceeded the company’s internal one-year target of 50,000 members. The product is AMC’s answer to MoviePass, the troubled subscription plan majority-owned by data company Helios & Matheson Analytics Inc. , which has proved unprofitable for its owner. AMC shares were not yet active premarket, but have fallen 8.8% in 2018, while the S&P 500 has fallen 12.1%.

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