What happened Shares of entertainment stock World Wrestling Entertainment (NYSE: WWE) jumped as much as 21.5% in trading on Wednesday as Reddit investors piled into the stock. Shares settled off their peak late in the day but were still up 10.8% at 2 p.m. EDT. So what World Wrestling Entertainment stock was trending on the Reddit board Wall Street Bets this morning, and little else was needed to push the stock higher. I wouldn't yet call this one of the well-known meme stocks like Gamestop or AMC, but names like this pop up on the board every once in a while and can get a short-term bump as a result. Image source: World Wrestling Entertainment. What we didn't see today was any news that should fundamentally change how investors view the stock. Earnings weren't released, no partnerships were announced, and analysts didn't change their view of the stock. But traders piled in today anyway. Now what Reddit traders can move stocks short term, but the fundamentals are what Foolish investors should focus on. As the economy reopens and WWE can welcome back more fans, we should expect revenue to pick up, but there's not much reason to think interest will be higher than before the pandemic. That's why I'll remain skeptical of today's move and the stock trading near a 52-week high until the company proves operations are truly better than they were two years ago. 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 June 7, 2021 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool recommends World Wrestling Entertainment. The Motley Fool has a disclosure policy.Source