Why is SAB Events falling/rising?

As of 02-Jul, SAB Events & Governance Now Media Ltd is experiencing a price increase, currently at 6.33, reflecting a change of 0.3 or 4.98% upward. The stock has shown a positive trend today, outperforming its sector by 5.04% and marking a reversal after three consecutive days of decline. Over the past week, the stock has gained 4.46%, and over the past month, it has risen by 6.39%. However, despite this recent uptick, the company has a negative book value and weak long-term fundamentals, with net sales declining at an annual rate of -2.94% over the last five years. The high debt to EBITDA ratio and the fact that 73.69% of promoter shares are pledged add to the stock's risk profile, contributing to its underperformance over the past year, where it has generated a return of -35.67%.
In the broader market context, while SAB Events has shown some short-term recovery, it has significantly underperformed compared to the benchmark, with the BSE500 generating a return of 3.11% over the last year. The stock's recent performance, while positive, is set against a backdrop of long-term challenges, including negative EBITDA and a lack of liquidity, as indicated by its low cash reserves. The rising investor participation, evidenced by a 72.9% increase in delivery volume, suggests some renewed interest, but the overall market sentiment remains cautious due to the company's fundamental weaknesses and high levels of pledged shares, which could exert downward pressure in a volatile market.