Why is Purple Finance falling/rising?

As of 23-Jun, Purple Finance Ltd is experiencing a decline in its stock price, currently at 42.65, which reflects a decrease of 0.19 or 0.44%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 3.13%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock has shown poor performance over various time frames, with a year-to-date return of -36.74% and a staggering -61.82% over the past year. While there were some positive results reported, such as higher net sales and the highest quarterly PBDIT, the overall outlook remains bleak due to significant operating losses and a negative EBITDA, suggesting weak long-term fundamental strength.
In the broader market context, Purple Finance's recent performance contrasts sharply with the Sensex, which has shown a slight gain of 0.12% over the past week. The stock's short-term return of -3.16% over the last week further emphasizes its underperformance relative to the benchmark. The decline in investor participation, with a 25.58% drop in delivery volume, coupled with the company's poor long-term growth prospects, reinforces the perception of risk associated with the stock. Overall, the combination of negative financial indicators and underperformance against the market suggests that Purple Finance is facing significant challenges, contributing to its declining stock price.