I love that movie from Foul Play – “Kojak – Bang Bang.”

One stock that has really been trending the last few years is COPART. Boring business – or is it? I think it used to be a boring business, until they leveraged the internet starting in 2003. The stock has been a rocket since than and recently hit an all-time high.

They have a slick website and internet commerce intitiative. Here is the business profile from Yahoo Finance:

Copart, Inc. provides salvage vehicle sale services primarily in the United States. It offers vehicle suppliers, primarily insurance companies, with a range of services to process and sell salvage vehicles over the Internet through its virtual bidding Internet auction-style sales technology. The company’s service offerings include online supplier access, salvage estimation services, virtual insured exchange, transportation services, vehicle inspection stations, on-demand reporting, DMV processing, flexible vehicle processing programs, buyer network, and sales process, as well as CoPartfinder, an Internet-based used vehicle parts locator that provides vehicle dismantlers with resale opportunities for their salvage purchases. It sells principally to licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers, and exporters. As of October 13, 2006, the company operated 122 storage locations in the United States and Canada. It also provides services in other locations through its national network of independent salvage vehicle processors. Copart was founded in 1982 and is headquartered in Fairfield, California.

I am following price, but if I was to think, I would say that the internet has smoothed out their sales cycles and the global growth has has given them a bigger market to both grow and smooth out economic cycles from any one geographic region.

I am adding a few shares tomorrow and will buy some more into some weakness.