Shakes the Clown.
Love that flick, and yes, I know how bad it is.
Hmmph. I was looking for the whole title. 
Bad and cult? Look no further than Battlefield Earth.
Better Off Dead?
Army of Darkness?
While they do have cult followings these movies were never considered “bad”.
I’m thinking something more like Showgirls. Critically and publicly panned as a truely bad movie when released it found later life with a cult following.
Agreed with Empire Records. Damn the man! Save the Empire! Although, I don’t think that movie is so bad as it is dated.
OMG my husband LOVES “Better Off Dead”. It’s kind of like the alleged 3 stooges phenomenon, where the man keeps saying it’s comedic brilliance, while the woman rolls her eyes.
We BOTH love Army of Darkness - I can’t understand anyone classifying it as a bad movie. Well, OK, we tried to turn my sister & her husband & kids onto it, at which point they were rolling their eyes at us. But that’s because they are fans of all mythic fantasy stuff, no matter how cheesy, and were used to the hero actually being noble. So they were not ready for Ash to be kind of a jerk. To me that’s what made it great. “That was just pillow talk, baby!”
Space Mutiny, made famous on MST3K. I consider it the modern standard for lovable bad movies.
Flash Gordon, as well as the porn reworkings.
Barbarella
hubby and I both love Better Off Dead
I want my $2 !!!
Alien
The Matrix
Gattaca
There’s also Santa Claus Conquers the Martians
Not really a “bad” movie; it’s just aimed at children.
Oi! You didn’t notice Barbara Harris? A film with her in it is by definition transcendent. But if was possible for a film to be bad enough that it’s good (despite being disqualified by having Barbara Harris***** in it) this could be it.
Women. Can’t live with 'em, can’t burn 'em.
*****I’m pretty sure she must have a cult following of her own (it’s not just me is it?)
I know there’s one for Wallace and one for Michelle but haven’t heard of one for her. I guess she has a following of at least one.
No…it’s really a bad movie. I must have watched it ten times, and I’m pretty sure on this one.
How many times did you see it as a child?
The mentioned movies already seem to have cults. I read the OP to be asking for NEW movies.
I submit GI Joe. You can watch it but you’ll be sorry. Then you’ll watch it again and still be sorry.
Bubba-Ho-Tep. I don’t know if it has a following, it’s Bruce Campbell so it may. I like it for what it is and it definitely has cult-ish leanings.
Except the thread title is in the past tense. 
Ice Pirates
Caveman (John Matusak AND Ringo Starr???)