(Reuters) – Shares of Royal Caribbean (NYSE 🙂 The cruise market fell by 3% after Hindenburg Research, a short seller (NYSE 🙂 stated that the operator of cruise lines had lost its bet.

Hindenburg posted, “The outlook on ‘Royal Caribbean” and the Cruise Industry is much more dire than other hospitality stories ‘post Covid,” Hindenburg wrote.

Royal Caribbean has not yet responded to Reuters’ requests for comment. Companies’ shares often fall after Hindenburg tweets about short-selling.

Short sellers seek to profit by placing bets that stock prices will fall.

Royal Caribbean shares fell by 18% within a matter of days after Omicron, a coronavirus variant infected global markets. It has since rebounded even though COVID-19 incidences continue to rise around the globe and slow down a recovery in the cruise industry.

Due to increasing cases, Royal Caribbean Cruise Line and Norwegian Cruise Line (NYSE) Holdings cancelled Wednesday’s voyages

Norwegian fell 1% Thursday while Carnival Corp (NYSE:) Corp dropped 0.3%

After launching an investigation into the onboard illnesses of more than 90 vessels, U.S. Centers for Disease Control and Prevention advised that cruise travelers avoid them last week.