Why Veoneer Stock Soared 56% Today

Shares of Veoneer (NYSE: VNE), the Swedish maker of radar systems, cameras, and night driving assistance electronics for automobiles, exploded 56.5% higher in 1:45 p.m. EDT trading Friday. This was despite the company having just reported what was -- in all honesty -- kind of an underwhelming quarter in its Q2 2021 earnings report.

And the reason for that is Magna International (NYSE: MGA).

Image source: Getty Images.

Source Fool.com