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AMC Entertainment CEO Adam Aron addressed the theater chain’s struggling stock price — $1.61 at time of publishing — in a statement to shareholders Friday, acknowledging the “distressing” decline. The stock hit a new all-time low of $1.55 in Wednesday afternoon trading.

Shares of AMC Entertainment Holdings, Inc. closed down 3.73% at the same level. According to data from Benzinga Pro, the decline came even as more than 5.5 million people visited AMC Theaters worldwide from Christmas through the following Sunday and Disney’s “Avatar: Fire and Ash” set the box office ablaze with a $90 million four-day weekend.

“As AMC’s largest individual shareholder, and not having sold even one AMC share on the NYSE…

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