Context: Copart specializes in online auctions of cars that are too damaged for insurance companies to justify paying the price of repairing them; buyers inclu

Context: Copart specializes in online auctions of cars that are too damaged for insurance companies to justify paying the price of repairing them; buyers include scrap yards and companies like LKQ Corp., which dismantles old cars and reconditions their parts to be sold in collision-repair shops. The insurance companies get what’s recovered in the auction, minus fees due to Copart that in some cases will increase proportionally with the value of a vehicle. “There was a lot of concern that safety technology would reduce accidents and so there’d be less cars for auction -- good for society, bad for Copart,” said Craig Kennison, a senior research analyst at Baird. But that didn’t account for the spread of smartphones, he added. “Cars may be safer, but drivers are more distracted.” Another article from Bloomberg, with more info - https://www.bloomberg.com/opinion/articles/2019-11-08/junk-car-dealer-copart-is-pricier-than-apple-and-microsoft-k2qkdw2k https://www.bloomberg.com/opinion/articles/2019-11-08/junk-c...