Peloton Stock Plunges 20% as It Warns of Continued Losses

Peloton Interactive shares plunged roughly 20% Wednesday to record lows after the company reported another decline in paying subscribers and said the costs of an equipment recall was denting its profit. The fitness-equipment company cautioned that it expected to have negative cash flow in each of the next two quarters as it keeps fighting high inventory levels, and another sequential drop in subscribers.