Friday Market Snap Shot

Copart (NASDAQ: CPRT)

Weekly Move: Copart has rebounded sharply over the past few weeks, breaking out of a challenging multi-month slump to secure a gain of roughly 5.95%. After falling to a fresh 52-week low of $25.72 on Wednesday, Oct. 14 the stock triggered a strong bullish reversal. Shares surged by more than 5.6% in a single session on Thursday, October 15, driven by heavy institutional volume as the company locked in 68.4% of tendered shares to finalize its $1.9 billion all-cash acquisition of ACV Auctions. The stock consolidated its gains, to a high of $28.22, before easing down a little.