3 Magnificent S&P 500 Stocks Down Between 16% and 21% to Buy on the Dip
Copart (NASDAQ: CPRT) owns roughly 250 salvage yards across North America and processes the sale of over 3 million (mostly) totaled vehicles on its online auction platform. The company generates 81% of its sales from car insurers, who use Copart's platform to sell totaled vehicles to dismantlers, exporters, car repair shops, dealerships, or the general public. Furthermore, the company benefits from NIMBY (not in my backyard) feelings from citizens who don't want to see more junkyards in their towns.