MoviePass parent company stock up after announcing price increase

10:20 AM ET Tue, 31 July 2018

MoviePass will raise its price to $14.95 per month within the next 30 days, the company said. The stock surged 150 percent to a session high of $2.00 before being halted and ultimately losing all its gains. The subscription service, which says it counts more than 3 million members, has been tweaking its plans in recent months in an effort to reach profitability.