Understanding characteristics of catalyst users in the WallStreetBets community

WallStreetBets (WSB), a Reddit community, impacted stock markets during the 2021 GameStop Short Squeeze. We examine the content and user properties that influence engagement in WSB. Despite WSB's association with emojis and informal terms, engagement among community members depends on more than surface-level factors. Although emojis are commonly used, they are not as effective at fostering interactions among users. Community members engage more with posts that have longer and topic-specific text. Simply producing a high volume of posts is not enough to attract an audience. Consistent topical focus, reciprocal interactions, and previous authorship of catalyst posts influence engagement. WSB posts, regardless of length, generally remain relevant to the community's theme of stock trading. Our findings provide insights into WSB engagement patterns and can be useful for downstream research, such as financial predictive tasks using WSB data.