NEW YORK (Reuters] -A year and a half after stock investors helped by social media forced an enormous squeeze on a handful of stocks that were heavily shorted, a few “meme” stocks found themselves back in the speed lane.

GameStop Corp (NYSE:) surged 14.5% Wednesday, and AMC Entertainment Holdings (NYSE:) ended the session higher 13.6%.

GameStop stock shares rose after Ryan Cohen, Chairman of GameStop, disclosed that his investment firm bought 100,000 shares. However, this increase adds to the 30 percent rally which began on Tuesday without any apparent catalyst.

AMC and GameStop were the two top-trending stocks in retail investors on stocktwits.com’s Wednesday report.

“This has probably occurred because we’re in a weak market environment, likely investment managers who short are looking for opportunities and they’ve gone back to those historically tried and true names,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.

Ghriskey stated that this gives these investors the chance to make a short squeeze. It can cause a panic in the shorting industry and close hedge funds with large short positions.

The trend was also associated with other companies, often referred to on social media as “stonks”, such as Blackberry (TSX;), Koss Corp or Sundial Growers. They advanced between 1.4%- 4.2%.

Allego NV, a Netherlands-based company that charges electric vehicles for charging, has joined the fray. Its share price has soared to 114.1%.

Even after today’s rally GameStop and AMC are still down between 5% to 24% year-to-date.

This is in sharp contrast to January 2021’s short-squeeze madness, where GameStop and AMC saw their stock rise by 1,600%, and 7550% over the course of just a few session.

According to S3 Partners, Tuesday saw short-selling in Tesla (NASDAQ) Inc / GameStop & AMC lose $2.32 Billion.