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Absurd JG Wentworth Promotion

by Structured Settlement Watchdog

Social media promotion of JG Wentworth has entered into the realm of the absurd. 

"Is it just me who likes this song on CNBC?  @jgwentworth #structuredsettlement" tweets Boodajava with a link to an ancient JG Wentworth commercial.

What's absurd, in my opinion, is zaftig Vikings singing joyfully about a name associated with two bankruptcies, whose value proposition is paying unsophisticated people #penniesonthedollar for their #structuredsettlement payments.  

Frankly I prefer to listen to the "Grateful Dead Gourds" than a bunch singinging "berserkers"

The "Grateful Dead Gourds"

 

JG Wentworth "On Life Support" as Stock Plummets 87% Today After Bankruptcy Filing

by Structured Settlement  Watchdog

The tubes have been pulled out and hospice has been called in,  JG Wentworth, the leader of a massively underegulated industry whose members profit off the unsophisticated and the ignorant,  has filed for Chapter 11 bankruptcy protection for the second time in 9 years according to Philadelphia Business Journal. Yet the word smithing on its press release framed by the wallpaper of some stodgy New York City law firms uses words kindler and gentler for PR.  

It's only too bad that a figurative dose of morphine was not available for JG Wentworth investors who were ripped off by the analysts who made questionable recommendations of the stock right before it plummeted in the first of a series of capital extinguishing moves that led to JGW's delisting and became JGWE

Read my recent commentary about JG Wentworth's stock performance chart, that looks as if the company "flipped investors the bird" in 2014, just before the beginning of the company stock's tumultuous drop. JG Wentworth went public 5 years after JGW shafted  investors in a 2009 bankruptcy. 

JG Wentworth is a defendant in a class action law suit filed September 14, 2017 in the Eastern District of Pennsylvania as one of the alleged participants in what was described in the complaint as an "Annuity Fraud Scheme" in which even the judges were alleged complicit.

JG Wentworth is also a defendant in a lawsuit arising out of the acquisition of Westar Mortgage. Allegations can be characterized as questioning shady dealings by JG Wentworth in an equity funded deal that was worth less almost immediately after the deal concluded when JG Wentworth stock began to tank. It has never recovered.

It should be noted that the stock rallied a penny, AFTER after this post was published to close at 3 cents!

Negative Outlook For JG Wentworth As Downgraded to CCC- from S&P | Stock at 20 Cents

by Structured Settlement Watchdog

JG Wentworth is the market leader in the structured settlement secondary market but according to S&P Global ratings, JG Wentworth "is saddled with an untenable debt burden".

On June 26, 2017, S&P Global Ratings said lowered its issuer credit rating on J.G. Wentworth LLC (JGW) to 'CCC-' from 'CCC+'. The outlook is negative. A CCC rating represents an extremely high risk bond or investment; banks are not allowed to invest in CCC rated bonds. CCC bonds are junk bonds. JG Wentworth's credit rating is worse than Greece.

At the same time, S&P lowered its issue-level rating on the company's senior secured debt to 'CCC-' from 'CCC+'. The recovery rating remains at '4', indicating that creditors could expect 30%-40% recovery in the event of payment default. "Our rating action today reflects our opinion that a distressed debt exchange transaction, which the company publicly disclosed it was contemplating earlier this year, is likely in the next six months" said S&P Global Ratings credit analyst Chris Cary. JGW's proposals indicate two scenarios: the first is the company aiming to reduce its debt to $90 million from $449 million, and thesecond is the company proposing to reduce its debt to $65 million. Both scenarios would greatly enhance the company's financial position and likely,in our view, position the company to face upcoming headwinds from both rising interest rates in its structured settlements business and expected lower refinancing volume in its mortgage business

The highlighted statement is also a clue into what motivates JG Wentworth competitor Novation Funding to use "Fire Sale" marketing featuring daily blasts about rising interest rates. As Standard & Poors suggests, rising interest rates are not good for structured settlement factoring companies and Novation Funding is out there hustling annuitants to sacrifice long term security for pennies on the dollar.

BREAKING NEWS! JG Wentworth Stock Plummets 52% on First Day of OTC Trading

   by Structured Settlement Watchdog

Is the blood is gushing out of  JG Wentworth's carotid arteries?  Today the  JG Wentworth stock plummeted 52% in its first day of trading on the OTC, after New York Stock Exchange trading in the stock was suspended June 17, 2016  (pending delisting), with a wild trading range of 20 cents to 42 cents on about 15 times average volume.  At the time of posting the stock is 21.5 cents. The JG Wentworth Company market cap is now only $5.26m.

The JG Wentworth Death Watch

JG Wentworth 8-K filed June 20, 2016

Not much you can buy for 21.5 cents these days.  Maybe a sample size of bubble gum. then again maybe not. That might go for a quarter.  Would a bunch of penny ante poker players accept a share of JG Wentworth in the pot?

In my opinion, an inquest needs to be made into The JG Wentworth Company and to question financial analysts who recommended this stock just 10 months ago when it was at $8 and sucked investors money into the stock which has been nothing short of a disaster. As I reported in March, there was a dearth of sell notices on the stock until then.  But something has been very rotten in Radnor and the analysts blew it.

Is the JG Wentworth "Funeral Dirge" Sounding at $1.16 a share?   January 13, 2016

JG Wentworth Stock Analysts | Is It Time to "Send In The Clowns"  March 9, 2016

What is the value of the JG Wentworth brand after one bankruptcy in 2009 that screwed investors and just seven years later, whatever you call what they're doing now, screwing investors,  again?   Investors, this is the leading company in an industry there is no licensing and where sales practices are completely unregulated!

 

 

 

JG Wentworth Dips below $10 million | Cash Now Pusher's Stock at 40 Cents

by Structured Settlement Watchdog

JG Wentworth is dying.   But its legend is sealed. As the old song goes " the candle burned out long before the legend ever did". JG Wentworth's brilliant marketing created an unforgettable brand. When one thinks of cash now one thinks of JG Wentworth.   The JG Wentworth legacy however,  is far from positive as will be recounted in a coming series.

 

JG Wentworth Stock Implodes, Falls Well Below NYSE Minimum Capital

by Structured Settlement Watchdog®

The stock of the dominant player in the structured settlement cash now business is imploding as JG Wentworth (JGW) shares plummeted 34.65% on 7 times average daily volume, closing at 83c after hit a low of 78c.  JGW stock is down 91.74% over the last 52 weeks.  Flushing The Toilet-SoundBible.com-399247839 

Now at a market capitalization if $20 million, JGW sits 60% below the minimum required capital to be listed on the New York Stock Exchange.

The structured settlement cash now pusher suffered a decline of 42.1% in revenue in structured settlement transfers, when compared to the same period in 2015.

Spotted "while having breakfast in a vintage Monty Python video" at the "Green Midget cafe" in Bromley, just South of London, the "JGW Viking singers" rehearsed a memorable ode to Einstein Structured Settlements. very simple really...  "Spam Spam Spam Spam". Always look on the bright side of life folks.

 

What you can no longer afford with one share of JG Wentworth stock?

1. A toll on any New York City Bridge
2. A ticket to the movies
3. A pay to poop stall in Manhattan, so hold it in!
4. A bottle of water
5. The dollar menu at McDonalds
6. A New York City Pretzel from a street vendor
7. A new York City hotdog from a street vendor
8. A subway token
9. A tip for a cup of coffee (unless you're a cheap SOB)
10. A New York City bus ride
11. A cup of anything at Starbucks
12. Any newspaper worth reading.
13. A pair of clean underwear
14. The daily feed for Moola, the Stone Street Capital 'cash cow"
15. Enough prison slop to feed structured settlement factoring forgers Thomas Rubino and Jose Manuel Camacho Jr. for one day in jail.
16. Enough to pay one penny of restitution for each of the forgeries admitted to by by Rubino or Camacho

 

The Many "Faces" of JG Wentworth Stock

by Structured Settlement Watchdog®

Someone has to see the humor in JG Wentworth stock                                                               

 

                                                                                       

1 day chart The Arnold Rohrschach... "Your kid could have done this with Etch-A-Sketch"

5 day chart-The Bart Simpson Split-Batman "Sandwich"

 

The "sheer defiance" of  becoming a penny stock in  2 1/2 months despite what the analysts "jousting at windmills" continued to bleat

JGW 6 month chart "Geromimo!", splash, penny stock

A Lazy Tabby cat is  JGW Stock over 15 months, $19 to $1 JG Wentworth stock really stunk up the litter box for investors over this time frame

JG Wentworth stock has been a unmitigated loser despite its dominance of the settlement purchasing industry.  These charts show that perhaps one should not "follow the bleeder". "Purportedly" "Don't fear the Reaper" gets a lot of rotation on the Muzak in Radnor.

A JG Wentworth Analyst FINALLY Issues Sell Recommendation AFTER Balloon Has Popped

by Structured Settlement Watchdog®

An analyst has issued a sell recommendation on JG Wentworth Company stock AFTER it has already lost more than 80% of its value in the last 6 months. Well done Zacks Research.  In unrelated news,  The Dollar Store sells items for a dollar.

Image source: Photobucket

 

Investors Pound JG Wentworth After Horrible Q4 2015 Earnings Report, Down 24%

by Structured Settlement Watchdog® 

The recent 50% rise in the penny stock JG Wentworth of late ran out of steam this morning as JG Wentworth released its underwhelming Q$ 2015 with the stock getting hit for 24%.

JG Wentworth reported a $135.1 million unfavorable change, that was principally due to a $145.9 million decline in Structured Settlement's pre-tax income due to: (i) a $57.6 million decline in revenue and (ii) a $91.7 million non-cash impairment charge in the fourth quarter of 2015 to write-down goodwill and intangible assets related to a prior year acquisition to their respective fair values.

The most recognized company n the structured settlement secondary market has dipped below $1 twice in the past several months.

 

 

Image source: Giphy

Is JG Wentworth "Dead Company Walking"?

by Structured Settlement Watchdog®

Another close to 11.5% drop in the first hours of trading for the largest structured settlement payment rights purchaser.  Huge hunks of net worth have evaporated for investors in JG Wentworth stock. which has dropped over 70% in the last year.

 

Is The Grim Reaper Tracking "Mr. Wentworth"?

Virtually anyone who has a structured settlement, including anyone who has ever sold structured settlement payments to JG Wentworth, Peachtree, Olive Branch,  321Henderson would get a better rate of return with their structured settlement than investing in the investment "quick sand" that has been JGW stock in the last 12 months.

So it's up for debate, what are your thoughts?

In your opinion, will JG Wentworth:

A)  file Chapter 11, again?

B)  be taken over?

C) be turned around?

D) be the subject of a shareholder lawsuit?

E) end up on the scrap heap?

F) file Chapter 11 within 90 days?