Nio's deliveries rose more than 20% year over year in the first four months of 2024. Image source: Nio.

Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) were moving higher on Monday as investors revisited former meme stocks that enjoyed social media-powered surges earlier in this decade. But the company had recent good news of its own to report.

As of 2:25 p.m. ET, Nio's American depositary shares were up about 6.7% from Friday's closing price.

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Source Fool.com