Publications
Publications
- March 2025 (Revised April 2025)
- HBS Case Collection
WallStreetBets: Democratizing Retail Investing
By: Joseph Pacelli and Alexis Lefort
Abstract
In summer 2024, Jaime Rogozinski anticipated the launch of a day-trading eSports event, a vision he had nurtured for years. Rogozinski, the founder of the influential subreddit WallStreetBets (WSB), created the forum in 2012 as a space for retail traders to explore high-risk trading strategies. WSB became known for its irreverent style and impact on retail investing, notably catalyzing the meme stock phenomenon and attracting a large, engaged community. Despite being ousted from WSB in 2020 following disagreements with Reddit over monetization attempts, Rogozinski's legacy persisted, amplified by the 2021 meme stock frenzy largely driven by WSB users. As he faced ongoing legal battles with Reddit, Rogozinski reflected on his contributions to retail trading and the potential for eSports to further revolutionize the field.
Keywords
Investment; Emerging Markets; Market Participation; Financial Strategy; Lawsuits and Litigation; Social and Collaborative Networks; Financial Markets; Financial Services Industry; United States
Citation
Pacelli, Joseph, and Alexis Lefort. "WallStreetBets: Democratizing Retail Investing." Harvard Business School Case 125-002, March 2025. (Revised April 2025.)