Can You Buy HBO Stock? Here’s What Investors Need to Know

Home Box Office (HBO) is behind some of the most popular shows in entertainment, from Game of Thrones and The Last of Us to classics like The Sopranos. With a strong brand and a streaming presence through Max, it’s natural that many fans want to invest.

We'll break down how you can invest in HBO indirectly, and what you should know before you do.

Is HBO publicly traded?

No, HBO isn’t a standalone public company.

HBO operates as a subsidiary of Warner Bros. Discovery (WBD -0.80%). That means there’s no separate HBO ticker symbol, and you can’t invest in HBO directly on the stock market.

If you want exposure to HBO, Max, or the broader portfolio of brands, the closest option is investing in Warner Bros. Discovery.

Will HBO go public?

HBO has changed hands several times, from Time Warner to AT&T, and ultimately through the 2022 merger that formed Warner Bros. Discovery. Because HBO plays a core role in WBD’s strategy for streaming and studio content, it’s unlikely to be spun off or listed separately.

So while there’s always a possibility of a future restructure, there are no current plans for an HBO IPO.

How to buy HBO stock indirectly

Since HBO isn’t publicly traded, investing in its parent company is the most direct way to gain exposure.

1. Open a brokerage account: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
2. Fund your account: Transfer money so you’re ready to invest.
3. Search for Warner Bros. Discovery: Enter the ticker symbol "WBD" into the search bar to bring up the stock's trading page.
4. Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
5. Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
6. Submit your order: Confirm the details and submit your buy order.
7. Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

Should you invest in HBO through Warner Bros. Discovery?

Investing in WBD comes with both opportunities and challenges.

Reasons it may make sense:

• You want exposure to well-known entertainment brands, including HBO, Max, DC Comics, Warner Bros. Studios, CNN, HGTV, TNT, TLC, and Discovery+.
• You believe consolidation, restructuring, and streaming growth could improve long-term performance.
• You’re willing to hold through volatility as the company evolves

Reasons to be cautious:

• Warner Bros. Discovery has faced declining cable viewership, significant debt, and heavy streaming competition.
• The business has undergone major restructuring and is still in a turnaround phase.
• The stock can be volatile and may not suit short-term investors.

The bottom line

Although you can't invest directly in HBO stock because it isn't an independent company, some investors may choose to buy shares of its parent company, Warner Bros. Discovery. The company is working hard to improve its financials, but it's been a bumpy road for shareholders.

It may be wise to tread carefully and take a position in Warner Bros. Discovery if you already have a well-diversified portfolio of companies. Investing in an ETF could also allow you to become a part-owner of the company that owns HBO while adding to your position in other top companies across various industries.

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