Why is Purple Finance falling/rising?

As of 20-Jun, Purple Finance Ltd's stock price is currently at Rs 42.84, reflecting a decrease of Rs 1.19, or 2.7%. Today's price summary indicates that the stock opened with a gain of 6.75% but has since fallen, marking a trend reversal after two consecutive days of gains. The stock has experienced high volatility, trading within a wide range of Rs 4.94, and has underperformed its sector by 4.27%. Over the past week, the stock has declined by 2.64%, and year-to-date, it has seen a significant drop of 36.46%. Despite some positive results in net sales and a slight increase in delivery volume, the company faces challenges with operating losses and a negative EBITDA, contributing to its weak long-term fundamental strength.
In the broader market context, Purple Finance's performance has been notably poor compared to the benchmark Sensex, which has gained 1.59% over the past week and 5.46% year-to-date. The stock's returns have consistently lagged behind the benchmark, with a staggering decline of 63.29% over the past year. This underperformance, coupled with the company's weak growth prospects and significant operating losses, positions Purple Finance as a risky investment, further exacerbating its price decline in the current market environment.