Wall Street whale shark traders will often band together to mega short against certain firms/companies using high leverage, in an attempt to margin call them (and thoroughly embarrass them).
I wish there were stricter rules about naked shorting. It should be impossible for the shorts to exceed the outstanding number of shares. It should be impossible to cover in cash. When closing the short position, it should be necessary to actually buy all the shares that have been "sold" without being there in the first place.
After the RobinHood Gamestop etc shenanigans, someone up there said they wanted to tighten the rules somewhat. Has anything happened since then?