AMC Entertainment Holdings Inc (NYSE:AMC) is trading at all-time lows despite a 1-10 reverse split. The company's APE shares, introduced by CEO Adam Aron, did not provide the expected boost. The box office is down 15% compared to 2019, and the release calendar is collapsing due to ongoing strikes in Hollywood. The strikes have halted film and television production worldwide, affecting box office revenues. Several high-profile movies and TV shows have announced delays in their release dates. AMC's profitability, which largely depends on its ability to pack theaters with blockbuster movies, is being severely impacted.