REPOST from Yahoo Finance.
AMC conversation feed:
I just sent this letter to the SEC it only takes a few seconds, email address is (chairmanoffice@sec.gov) everyone needs to do the same, you have to fight these people from all ends, don't be lazy!!! LETTER BELOW:
Just copy and paste!
Subject: Market Manipulation - AMC Entertainment
Dear Mr. Gensler
I would like to draw your attention to market manipulation activity happening on an industrial scale on range of stocks including AMC listed on US Exchanges by market makers operating in the dark pool.
Brokerages such as Fidelity which routes retail orders through NYSE reports day in day out the buy orders for AMC outnumbering sell orders by nearly 2 to 1, yet the price has been falling consistently now for the past month. It is falling because brokerages such as Robinhood, TD Ameritrade and Charles Schwab, attracted by payments for order flow, are routing retail orders through dark pool market makers such as Citadel and Virtu which routes sell orders to lit exchanges on receipt and park buy orders in their books; eventually releasing it to lit exchanges as and when it favors them.
In fact, on option expiry days, you can almost exactly predict to the dime where the price of stocks manipulated in this manner will finish at end of day trading.
My question to you Sir is: Why is the SEC allowing Citadel and other clearinghouse money makers/broker-dealers to route over 50% of all the AMC retail buy orders to dark pools and sell orders to the market, thus effectively truncating AMC market price?
United States prides itself as a free fair and competitive market driven economy. However, the above practice appears anything but. It is pure manipulation by and to the benefit of a single entity Citadel, and to the detriment of tens of millions of retail investors. This needs to be investigated and the practice ended as a matter of URGENCY,
Sincerely
