Why is Purple Finance falling/rising?

As of 11-Aug, Purple Finance Ltd's stock price is currently at 37.50, reflecting a decrease of 0.48, or 1.26%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 3.85% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite declaring positive results for the last three consecutive quarters with net sales higher at Rs 16.20 crore, the company faces challenges such as decreased promoter holding, which now stands at 50.24%. Furthermore, the company is experiencing operating losses and a negative EBITDA, contributing to its weak long-term fundamental strength and poor growth prospects.
In the broader market context, Purple Finance's performance has been notably worse than the benchmark, with a year-to-date decline of 44.38% compared to a 3.15% increase in the Sensex. Over the past month, the stock has dropped by 11.64%, while the benchmark has only seen a 2.30% decline. This underperformance is compounded by a significant drop in investor participation, with delivery volume falling by 73.09% against the 5-day average. Overall, the combination of weak operational performance, declining investor interest, and a lack of confidence in long-term growth prospects has led to the stock's downward trend.