Why is 63 Moons Tech. falling/rising?

As of 18-Aug, 63 Moons Technologies Ltd is experiencing a price increase, currently at Rs 996.60, reflecting a rise of Rs 65.5 or 7.03%. The stock has shown a trend reversal after two consecutive days of decline, reaching an intraday high of Rs 1016.5. Despite a decrease in delivery volume by 38.79% against the 5-day average, the stock has outperformed its sector by 7.48% today. Over the past year, it has generated a remarkable return of 203.33%, significantly outperforming the BSE500 index in both the long and short term. However, the company faces challenges, including operating losses and weak long-term fundamental strength, which could impact investor sentiment.
In the broader market context, the stock's short-term performance of +6.25% over the past week contrasts sharply with the Sensex's modest gain of +0.83%. This indicates that 63 Moons Technologies Ltd is gaining traction relative to the market. The increasing participation of institutional investors, who have raised their stake by 0.79%, suggests a positive outlook from more sophisticated market players. However, the company's weak profitability metrics and negative EBITDA raise concerns about its long-term viability, which may temper enthusiasm despite the current price rise.