The investor, acknowledging the stock's 99.5% cratering over five years and significant shareholder dilution, cites a strong box office recovery with six movies topping $1 billion this year (matching 2019 levels), AMC's valuation discount to rival Cinemark (1.7x vs 1.9x trailing revenue), and the company's efforts to enhance the moviegoing experience and diversify revenue streams, including its 1.1 million paying AMC Stubs A-List members.