Why is Flomic Global falling/rising?

As of 24-Sep, Flomic Global Logistics Ltd is experiencing a decline in its stock price, currently at Rs 59.13, which reflects a decrease of Rs 1.94 or 3.18%. The stock has been underperforming significantly, having fallen consecutively for the last five days, resulting in a total return of -14.3% over that period. Today's trading saw the stock open with a gain of 2.49% but quickly fell to an intraday low of Rs 58.82, indicating volatility. Additionally, the stock is trading below all key moving averages and has seen a drastic reduction in delivery volume, which has decreased by 98.47% compared to the five-day average. The company's recent financial performance has also been concerning, with a significant drop in profit after tax and net sales compared to previous quarters, contributing to its negative sentiment in the market.
In the broader market context, Flomic Global's performance has been notably poor compared to the benchmark, with a year-to-date return of -18.39% against the Sensex's gain of 4.58%. This consistent underperformance over the last three years highlights a troubling trend for investors. Despite the company showing strong long-term fundamentals, such as a healthy growth rate in net sales and operating profit, the stock's valuation appears expensive relative to its peers, which may deter investment. The combination of falling profits, high valuation metrics, and a lack of investor participation suggests that the stock is facing significant challenges in regaining investor confidence.