What happened Shares of World Wrestling Entertainment (NYSE: WWE) dipped 10.2% in October, according to data from S&P Global Market Intelligence. The stock fell after the company reported third-quarter results late in the month and was also pressured by sell-offs for the broader market. ^SPX data by YCharts WWE published third-quarter results on Oct. 29, positing earnings that topped the market's target on sales that fell slightly short of expectations. The company posted non-GAAP (adjusted) earnings per share of $0.56 on revenue of $221.6 million, while the average analyst estimate (as polled by FactSet) called for per-share earnings of $0.38 on sales of $221.7 million. Image source: Getty Images. So what Management's choice not to provide forward guidance may have also played a role in WWE's stock sell-off last month. The broader market saw a significant pullback at the end of October's trading, and the lack of clarification from management may have overshadowed what was otherwise a pretty solid quarter. Sales for the period were up 18.9% year over year, and the company managed to grow paid subscriptions for its WWE Network service by 6%. However, uncertainty created by conditions related to COVID-19 prompted the company not to reinstate guidance for the current fiscal year. Management also said the company had not bought back any stock under its $500 million approved repurchasing initiative in Q3, which some investors may have interpreted as a negative indicator. Now what WWE stock has inched higher early in November's trading, although its gains have lagged those of the broader market. The company's share price is up roughly 1% in the month so far. ^SPX data by YCharts World Wrestling Entertainment has a market capitalization of roughly $3 billion and trades at about 22 times this year's expected earnings. 10 stocks we like better than World Wrestling EntertainmentWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and World Wrestling Entertainment wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source