Why is Ola Electric falling/rising?

As of 24-Jun, Ola Electric Mobility Ltd is currently priced at 43.61, reflecting an increase of 0.29 or 0.67%. Despite this slight uptick, the stock has underperformed significantly in the short term, with a 1-week decline of 6.19% and a 1-month drop of 17.58%. The stock is also close to its 52-week low, just 1.05% above the low of Rs 43.15. Additionally, Ola Electric is trading below all its moving averages, indicating a bearish trend. The company has faced severe challenges, including a 100% fall in net sales and consecutive negative quarterly results, leading to a weak long-term fundamental strength characterized by high operating losses and a negative EBITDA. Furthermore, institutional investor participation has decreased, suggesting a lack of confidence in the company's prospects.
In the broader market context, the Sensex has shown resilience with a 1-week gain of 0.58% and a 1-month increase of 0.41%, contrasting sharply with Ola Electric's performance. This divergence highlights the stock's struggles relative to the overall market. While there has been a notable rise in retail investor participation, as evidenced by a 531.29% increase in delivery volume, the overall sentiment remains cautious due to the company's financial instability and poor growth outlook. The combination of these factors suggests that while there may be short-term fluctuations in the stock price, the underlying fundamentals continue to pose significant risks.