Why is Purple Finance falling/rising?

As of 15-Jul, Purple Finance Ltd's stock price is currently at Rs 42.29, reflecting an increase of Rs 1.01 or 2.45%. Today's price summary indicates that the stock has outperformed its sector by 1.64% and reached an intraday high of Rs 42.29. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a significant rise in delivery volume by 250.04% against the 5-day average, the stock has shown poor performance over the longer term, with a year-to-date decline of 37.27% and a staggering 50.54% drop over the past year. The company's promoter holding has decreased to 50.24%, indicating potential concerns regarding investor confidence. Additionally, the company is facing operating losses and a negative EBITDA, which contribute to its weak long-term fundamental strength.
In the broader market context, Purple Finance's short-term performance has been relatively poor compared to the benchmark, with a 1-week return of -2.22% against the Sensex's -1.36%. This underperformance is compounded by the company's significant decline over the past year, where it has generated a return of -50.54%, contrasting sharply with the Sensex's positive return of 2.36% during the same period. The overall market sentiment appears to be cautious, particularly given the company's weak financial indicators and the decrease in promoter holding, which may further impact investor sentiment and stock performance.