I feel your pain and fully agree with your analysis!
what I often find that when a lucrative Placement price on the card! The Company completely or strategically ignores the small investors! Placement is congratulated on over subscriptions! ...For, of course at such a big margin of discount! At much risk reducing level of gaming a winning bet! Who would not want to be in...on an uneven In-front advantage position! Of a promising company future!
Some argue that this ploy is made for a convenient quick and large sum of inflow capital! From Smart Money!
on the other hand, when SPP is attached, the discount value is much less! Sometimes, it is better to buy on the market, than wasting a month of locked up 30k of squid!
Smaller fish need to struggle harder in life! But school of fish swimming faster than a lone one! Thus giving rise to Reddit investing phenomenon lately!
small investors often risking more at early stages for not much loyalty appreciation, and at worst, often times left holding the bag while Smart money has long abandoned the ship for gain and safety!
it pays to be a big whale in this investing ocean!