Basicly yes. It similar to the possibility of USD/BTC rate manipulation (due to same bid/ask system).
One can manipulate market if he has enough shares - e.g. somebody holding few hundreds of AM shares could destroy the price on BTCT by dumping them, then buying back from panic sellers (if he is lucky). The same goes for big BTC whales manipulating Gox.
EDIT: also you can spice the sell-off with some nice DDOS.
DDOS?! So sneaky! So how many shares do I need to do this? *Jokes
But seriously, how many ActM shares would it take to manipulate the price? I have a feeling it is happening right now but I am not sure what to look for. What ways are there to spot if a stock is being manipulated?
Also, how many shares does it take to become a "whale"?
ugh i was going to show you a great video about this but it was deleted. basically you need enough coins to cause a panic and then enough capital left over to reap the rewards. you can then chain them together and swing the price the other way around. it takes good timing, a bit of luck, coordination with multiple people or sophisticated software. then again the price is manipulated whenever us plebs trade too, so.
but it is real and it does work. it abuses bots and people's emotional response to get them to do bad short term trades.