Netflix shares fall after HSBC downgrades to Hold
HSBC cut Netflix to Hold from Buy, citing YouTube competition and weaker signs of viewer engagement; NFLX fell about 2% Tuesday.
Netflix shares fell about 2% Tuesday after HSBC lowered its view on the streaming company, citing growing competition from YouTube and weaker signs of viewer engagement, according to a Tuesday analyst note. HSBC analyst Mohammed Khallouf cut Netflix to Hold from Buy and reduced his…