FTD
Financiere de Tubize.
stock NASDAQ

The FTD for 24th of June was 10 million shares. Let's put it clear. If you cannot deliver 10 million shares that you sold in 24th by 25th end of business day, that is called naked short.
Since the amount and price was announced in 25th, one day after they announced the deal, one can reason that the shares were not yet in circulation during full trading day of 24th when almost 100M shares were exchanged. Since those 10M shares appear to have been settled in 29th, it's clear that they shorted to the ground HTZ using naked shorts in 24th, knowing that they will be able to deliver. But since they did not know how much you need to dump the price, they settled the amounts later for 25, after they dumped.
I wrote a full episode of what I think it happened in reality on r/WallstreetForensics . The excuse of "needing shares for shorting" is what was sold to the public.

The FTD for 24th of June was 10 million shares. Let's put it clear. If you cannot deliver 10 million shares that you sold in 24th by 25th end of business day, that is called naked short.
Since the amount and price was announced in 25th, one day after they announced the deal, one can reason that the shares were not yet in circulation during full trading day of 24th when almost 100M shares were exchanged. Since those 10M shares appear to have been settled in 29th, it's clear that they shorted to the ground HTZ using naked shorts in 24th, knowing that they will be able to deliver. But since they did not know how much you need to dump the price, they settled the amounts later for 25, after they dumped.
I wrote a full episode of what I think it happened in reality on r/WallstreetForensics . The excuse of "needing shares for shorting" is what was sold to the public.

They started dumping in 24th of June using naked shorting, then settled next day for actual price and amount for the lent. Based on FTD, they had a net of 10 million naked shorts sold end of 24th. Then the price closed at 3$ but a large volume happened around 3.5-3.7$. So their cost basis for what they spent to dump the price may actually be as high as 3-3.5$. However there was a delta of 41M shares shorted for the period so definitely they burned it then. Shorting delta in 1-15 July was not significant. Next days there will be the shorting data published for 16-31 July so this might be interesting to follow.
I think there is room for a comeback, but after large dumps like this, even if the company does execute a turnaround, it's possible for market makers to attempt to keep the price depressed for 6 months or more. We are barely in month two. It's called the valley of death where all the get rich dreams are slaughtered. Few survive this.