You have to add APE in to get a fair price Grove, as the preferred APE dividend was actually more of a split, and AMC's share price had to drop to account for the APES. One AMC share pre-dividend is now 1 AMC and 1 APE. Even if you add them together this am, you are at $13.73, well below where AMC traded around $18 the last day it traded alone. But, if AMC/APE combined cannot re-take and solidly hold $14, there appears to be more risk to the downside.