Why is 63 Moons Tech. falling/rising?

As of 10-Jul, 63 Moons Technologies Ltd is experiencing a price increase, currently at Rs 1,100.95, reflecting a rise of Rs 16.05 or 1.48%. The stock has recently hit a new 52-week high of Rs 1,130 and has outperformed its sector by 2.11%. Over the past week, the stock has gained 7.41%, and in the last month, it has surged by 27.72%. Despite the impressive returns, the company faces challenges, including operating losses and a weak long-term fundamental strength, as indicated by a negative EBIT to interest ratio and a low return on equity. Furthermore, the company has reported negative results for the last four consecutive quarters, which raises concerns about its profitability and ability to service debt.
In the broader market context, while 63 Moons Technologies has shown strong short-term performance, significantly outperforming the Sensex, which has remained flat at -0.06% over the past week, the stock's rise is juxtaposed with underlying financial weaknesses. The company's consistent returns over the last three years, including a remarkable 219.58% increase in the past year, contrast sharply with its declining profits and negative EBITDA. Additionally, the lack of investment from domestic mutual funds suggests a cautious outlook on the stock's valuation and business stability, indicating that while the stock is rising, there are substantial risks that could affect its future performance.