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By Sam Boughedda
Investing.com — Shares of Royal Caribbean Cruises Ltd (NYSE:RCL) are down over 3% after investment research firm Hindenburg Research released a series of tweets outlining its reasons for being short the company.
Hindenburg said it believes RCL is "one of the most dislocated "re-opening" stocks on the market today."
"The outlook for $RCL and the cruise industry is far more grim than other hospitality and leisure "post-Covid" stories," added Hindenburg.
A representative from Royal Caribbean wasn't immediately available to comment.
In further tweets, the activist short-seller said RCL now has over $26 billion in liabilities and $17 billion in net debt, the company's business fundamentals are "permanently impaired," and its operations are anything but "normal."
Hindenburg also addressed the current Conditional Sailing Order, which is set to expire on Jan. 15.
"$RCL has remained one of the clearest recent market dislocations despite its obvious business and balance sheet impairments. We are short," concluded the research firm.