Beauty Health Co. (NASDAQ:SKIN) dropped 7% amid a new short report from The Bear Cave.

The Bear Cave report highlights competition that Beauty Health’s HydraFacial device has with DiamondGlow, a product from AbbVie’s (ABBV) Allergan business. 

Beauty Health (SKIN) shares had risen 6.5% through Wednesday since going public in a de-SPAC in May 2021. The SPAC that Beauty Health went public through was led by former Allergan CEO Brent Saunders. 

“Trading for ~5x revenue today, The Bear Cave believes HydraFacial is about to faceplant,” the Bear Cave wrote in the short report.

Beauty Health (SKIN) didn’t immediately respond to Seeking Alpha email request for comment.

Beauty Health (SKIN) short interest is 32%.

Beauty Health (SKIN) is scheduled to report Q4 results Feb. 28.

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