Why is Emerald Leisures falling/rising?

As of 26-Jun, Emerald Leisures Ltd's stock price is currently at 208.10, reflecting an increase of 4.05, or 1.98%. The stock has shown a positive trend recently, gaining 6.09% over the last three days and outperforming its sector by 2.07% today. Additionally, the stock has performed well over the past week and month, with returns of 4.05% and 11.46%, respectively. However, it is important to note that the company has a negative book value and high debt levels, which contribute to its weak long-term fundamental strength. The increase in pledged promoter shares to 24.01% may also raise concerns among investors, despite the recent positive price movement.
In the broader market context, Emerald Leisures has outperformed the benchmark Sensex in the short term, with a 1-week return of 4.05% compared to the Sensex's 2.94%. However, the stock has significantly underperformed over the longer term, with a year-to-date return of -9.36% against the Sensex's 7.19%. This contrast highlights the stock's volatility and the risks associated with its negative book value and poor long-term growth prospects, despite the recent uptick in price and investor participation.