I hate to say this but I agree with you. If you convert from AMC to APE shares now you will have 2 to 3 times number of APE shares now that will convert into AMC/10 shares after conversion + RS process.
If you are holding all AMC shares now you will have the same number of shares/10 after the conversion + RS process.
So converting AMC to APE shares now is much more profitable use of your money then just holding AMC shares now due to this arbitrage situation.
I don't expect AMC to ever squeeze again because the SEC, FINRA, or BROKER DEALERS will not allow the AMC stock to run up very high before they halt it or take away the buy button like they illegally did at Robinhood or with MMTLP shares which are still halted 100 days later.
GLTA TO THE APES EXPECTING AN AMC SQUEEZE OF ANY KIND NOW.
Unless Congress acts and changes the law, or we have a change in administration, shorts will continue to attack weak companies to make their profits.