Stock tanks with no end in sight for company volatility. : Papa Johns wasn’t satisfied with offers from private equity companies, reports Reuters. As a result, it has opted to look for an investor instead. The news surprised investors, who quickly punished the company. Papa John’s stock fell more than 8% Friday in mid-morning trading. Papa Johns has been struggling for awhile, at one time blaming the NFL’s National Anthem controversy for its problems. Things worsened when founder John Schnatter reportedly used racial slurs on a media training conference call.