Red-light camera business suffers in virus crisis

Here’s a story that will bring a tear to the eye of every commuter.

The guys that operate the red light cameras are suffering big time in the Covid-19 crisis.

Redflex Holdings, an Australian company, operates red-light cameras (“traffic safety programs”) in 100 U.S. and Canadian cities.

Seems that when people run that red light or speed, Redflex Holdings gets a slice of the fine.

Problem is, according to the Wall Street Journal, people aren’t out driving. That means fewer tickets and less money to Redflex Holdings.

So they evidently have a liquidity problem. And the stock is down up to 46%.