PZZA - Papa John's founder lays out bearish view on the company

John Schnatter posts an article on the company he founded in his first appearance as a Seeking Alpha contributor. Schnatter says Papa John's International ([[PZZA]] +0.5%) has had a revenue problem since 2018 and is showing little signs of progress."The problem that Papa John’s shareholders have now is that the risk of holding the stock seems to be asymmetrical. Unless the company is acquired, the downward pressures on the stock price seem to outweigh any upward pressures," writes Schnatter.He also thinks headwinds for PZZA include lackluster pizza quality, limited pizza experience among leadership, the loosening of COVID restrictions on other competing dining options in the coming year, food cost pressures and negative store growth in the U.S "All of these downward pressures don't seem to justify a stock trading at 56 times this year's earnings, in my opinion. Furthermore, the stock trades at 35 times analyst-projected 2021 earnings, which represents a

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Papa John's founder lays out bearish view on the company