One-Time Amazon Takeover Target iRobot Warns Doubt on Future (2)

IRobot Corp., the consumer robotics company that Amazon.com Inc. once planned to buy for more than $1 billion, tumbled on Wednesday after raising a “substantial doubt” about its ability to continue operating.

The Bedford, Massachusetts-based company warned in its earnings results that there’s doubt about whether it can continue as a going concern. The firm’s board has begun a formal strategic review to evaluate options, including refinancing its debt and exploring a potential sale, according to the statement. Shares plunged as much as 42% to $3.63 in New York, a record intraday decline for the stock, which made ...