At the end of 2022, WallStreetBets' subscriber count had risen to 13.3 million, with the 10th highest comments-per-day of any subreddit.
Over time, r/wallstreetbets subscriber base continued to grow. In February 2023 he filed a lawsuit against reddit for breach of contract and trademark infringement, which was dismissed in July 2023. Reddit's administrators removed Rogozinski from the subreddit and banned him from moderating the community in April 2020, a month after he attempted to trademark the subreddit name. Within four years, r/wallstreetbets had begun to flourish, accruing roughly 100,000 subscribers by the end of 2016. "When I created the sub, I was looking for a community, a place for people to talk about high-risk trades in an unapologetic way for people to make some short term money with disposable income," Rogozinski told TMZ Live.
WallStreetBets was founded in 2012 by 39-year-old American citizen Jamie Rogozinski. Members of the community post memes and joke posts about the financial market, with the Meme Man (also known as Stonks guy) becoming "emblematic" of the subreddit. Users also frequently use slang such as "stonks" for stocks " tendies" for gains or profits "gay bears" for those who expect a stock to decline, for stock shorters, or as a general insult "DD" (from "due diligence") for analysis of potential trades " bagholder" for one whose position has severely dropped in value "diamond hands" for holding stocks adamantly and "paper hands" for selling at the first sign of loss. The subreddit is also known for its use of profane and juvenile humor, with members often referring to themselves as " autists", " retards", "degenerates", and "apes". Some of the members tend to use borrowed capital, like student loans, to bet on certain " meme stocks" that show popularity within the community. Members of the communities often see high-risk day trading as an opportunity to quickly improve their financial conditions and obtain additional income. The growing popularity of no-commission brokers and mobile online trading has potentially contributed to the growth of such trading trends. Members of the subreddit are often young retail traders and investors who ignore fundamental investment practices and risk management techniques, so their activities are often considered gambling. The subreddit, describing itself through the tagline "Like 4chan found a Bloomberg terminal", is known for its aggressive trading strategies, which primarily revolve around highly speculative, leveraged options trading. The community is run by u/OPINION_IS_UNPOPULAR, who has moderated the community for over 9 years. It has become notable for its colorful and profane jargon, aggressive trading strategies, and for playing a major role in the GameStop short squeeze that caused losses for some US firms and short sellers in a few days in early 2021. R/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading.
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