Papa John's stock surged 7.86% during intraday trading on Monday, marking a significant upward movement for the pizza chain.

The price increase appears to be driven by the company's announcement of testing drone deliveries in a North Carolina suburb through a partnership with Wing, a drone delivery company owned by Alphabet. This initiative represents part of Papa John's broader effort to modernize its technology and operations.

While the drone delivery test is currently limited to a small market near Charlotte, North Carolina, and only available for select sandwiches through a specific app, the move signals innovation in an area where U.S. food delivery chains have been limited by regulatory constraints.