Why is 63 Moons Tech. falling/rising?

As of 30-Jul, 63 Moons Technologies Ltd is experiencing a decline in its stock price, currently at Rs 994.50, which reflects a decrease of Rs 17.9 or 1.77%. The stock has underperformed its sector by 1.88% today, having touched an intraday low of Rs 992.1. In terms of returns, the stock has shown a negative performance of 8.10% over the past week and a slight decline of 0.78% over the past month. Despite a strong performance over the past year with a return of 165.66%, the company has faced significant challenges, including operating losses and a negative EBITDA, which have contributed to a weak long-term fundamental strength. Additionally, while institutional investors have increased their stake, the company's ability to service its debt remains poor, which raises concerns among investors.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by only 1.50% over the past week. This indicates that the stock is not only underperforming relative to the market but also facing a decline in investor participation, as evidenced by a 27.01% drop in delivery volume compared to the 5-day average. The company's negative financial results over the last four quarters, including a significant drop in net sales and profitability, further exacerbate the situation, leading to increased risk perception among investors. Overall, the combination of weak fundamentals and declining investor interest has contributed to the stock's recent downward movement.