Peloton shares slump as sales stall

The New York City firm thrived during the pandemic (John Seewer/AP)

Peloton has suffered its worst day as a publicly traded company after telling investors that it is likely to lose more money than it had expected in fiscal 2022.

The New York City firm thrived during the pandemic, recording its first and only profitable quarters as people were unable to hit the gym, instead setting up places to work out at home.