Why is 63 Moons Tech. falling/rising?

As of 03-Jul, 63 Moons Technologies Ltd is experiencing a price increase, currently at 1,025.00, reflecting a rise of 27.2 or 2.73%. The stock has recently hit a new 52-week high of Rs. 1093.5 and has outperformed its sector by 2.93%. Over the past week, the stock has gained 3.12%, and it has shown impressive returns of 21.34% over the last month and 175.69% over the past year. However, despite these positive movements, the company has declared negative results for the last four consecutive quarters, with significant operating losses and a weak ability to service its debt, which may raise concerns among investors.
Broader market context indicates that while 63 Moons Technologies Ltd has outperformed the Sensex in the short term, with a 1-week return of +3.12% compared to the Sensex's -0.62%, the overall market sentiment may still be cautious due to the company's weak long-term fundamental strength and negative EBITDA. The lack of domestic mutual fund investment, holding only 0% of the company, suggests that institutional investors may be wary of the stock's valuation and business prospects, despite its recent price rise.