Why is 63 Moons Tech. falling/rising?

As of 16-Jul, 63 Moons Technologies Ltd is experiencing a price increase, currently at Rs 1,094.85, reflecting a rise of Rs 21.0 or 1.96%. The stock has shown strong performance recently, gaining 2.03% over the last two days and is just 3.21% away from its 52-week high of Rs 1,130. In the past year, the stock has generated impressive returns of 219.57%, significantly outperforming the BSE500 index. However, despite this positive price movement, the company is facing challenges, including operating losses and a weak long-term fundamental strength, as indicated by a negative EBIT to interest ratio and declining profitability metrics.
In the broader market context, the stock's recent short-term performance contrasts with the Sensex, which has declined by 1.08% over the past week. While 63 Moons has outperformed the benchmark in both the short and long term, the falling investor participation, as evidenced by a 55.74% drop in delivery volume, raises concerns about the stock's liquidity and investor confidence. Additionally, the lack of domestic mutual fund investment suggests that institutional investors may be wary of the company's financial health, particularly given its negative EBITDA and declining sales figures.