They do manipulate things to a significant extent in the OTC world, but they do have to respond to and fill orders that are brought to them by the big brokerages like ETrade and if they don’t appropriately fill the orders,, ETrade will find another MM to go to for the stock. Also, the manipulation by the MM is limited by the number of different MM’s, buy and hold investors, and a stock with actual fundamental value (rare in Pinks, but there are some). They can play the game all day long when it comes to OTC day-traders. Hiwever, they can only manipulate things temporarily, so if there is an extended run for good reason or b/c of the company’s fundamental value, there manipulative impact is quite limited.
