What happened Shares of Limelight Networks (NASDAQ: LLNW) fell 38.7% in October, according to data from S&P Global Market Intelligence. The content delivery network (CDN) specialist reported solid third-quarter sales but fell short of Wall Street's targets on the bottom line, and reported modest earnings guidance for the rest of this fiscal year. So what Limelight's bottom line swung from a $0.01 profit to a $0.02 loss per share in the third quarter. The shortfall was based on interest payments on $106 million of new long-term debt, and the same interest payments also led Limelight's management to lower earnings expectations for the fourth quarter and full fiscal year. Investors ran for the exits, driving share prices nearly 30% lower the next day. Image source: Getty Images. Now what Nervous investors sold off a lot of high-flying stocks in October, taking profits on fantastic year-to-date gains and moving over to safer investment ideas. Limelight may have looked like a skyrocketing market darling at first glance, given its negative earnings and free cash flows over the last four quarters. The company also works in a highly visible market these days, supporting remote work platforms and video-streaming platforms around the world. This particular correction was much too sharp, though. Limelight has not spent any of the debt-based extra cash yet, giving management a whole new level of financial flexibility at the cost of a modest quarterly interest expense. All things considered, Limelight Networks is a no-brainer buy at these dramatically lower prices. 10 stocks we like better than Limelight NetworksWhen 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 Limelight Networks 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 Anders Bylund owns shares of Limelight Networks. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source