Copart, Inc. (CPRT, Financial) (CPRT - $83.27 – NASDAQ) is the global leader in online vehicle auctions. Like most rms, online auto auction provider and vehicle remarketer Copart was a ected by COVID-19, as it experienced lower processed vehicle volumes from lower car accident volumes. However, Copart shares rebounded in the second quarter, as the company posted a better-than-expected sales number for its scal quarter ending in April. Shares also rallied as North America began to reopen throughout Q2. at resulted in an increase in auto miles driven, which in turn led to greater vehicle volumes.
From Keeley Asset Management Corp (Trades, Portfolio)'s Small-Mid Cap Value Fund second-quarter 2020 shareholder commentary.
