The Hidden Reason Copart's Shares Soared in July

Shares of online salvage auctioneer Copart (NASDAQ: CPRT)'s shares were up 12% for July, according to data from S&P Global Market Intelligence. Although Copart is often considered a tech company, it auctions vehicles on its online platform, and it seems as though positive news elsewhere in the auto industry spilled over to benefit Copart's shares. On July 10 -- the trading day before the stock's big rise -- the auto industry got some good news from China, the world's largest market for vehicles.