Netflix stock is getting shredded — and Google's YouTube may be the reason

While Netflix (NFLX) execs sit in their ivory tower licking their wounds for not closing the deal for Warner Bros. (WBD) — which will now officially end up going to Paramount (PSKY) — investors are left with uncertainty on the streamer's future growth. And they are continuing to stampede for the exits. Netflix stock is down 11% in September, per Yahoo Finance AlphaSpace data, bringing the year-to-date drop to 23%. The S&P 500 (^GSPC) is up 13% on the year. (NFLX ) Go deeper with AlphaSpace 72.16 -1.20 (-1.64%) At close: September 22 at 4:00:00 PM EDT NFLX^GSPC Although Wells Fargo's cautious comments on Netflix have gotten attention this week, it's a new note from HSBC of all places that we think is of greater concern to the remaining Netflix bulls.