Why is SpiceJet falling/rising?

As of 09-Oct, SpiceJet Ltd's stock price is currently at Rs 33.09, reflecting an increase of Rs 4.54 or 15.9%. Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline, outperforming its sector by 13.98%. The stock reached an intraday high of Rs 33.7, showcasing significant volatility with an intraday fluctuation of 8.26%. However, despite this short-term gain, the stock has shown a negative performance over longer periods, with a year-to-date decline of 40.27% and a one-year drop of 49.68%. The company's financial health raises concerns, with a negative book value, high debt levels, and poor long-term growth metrics, including a significant fall in net sales and profit after tax. In the broader market context, SpiceJet's short-term return of 12.97% over the past week significantly outpaces the Sensex's gain of 1.47%, indicating a strong relative performance in the short term. However, the stock's long-term performance remains troubling, as it has underperformed the benchmark indices over the past three years, one year, and three months. The high proportion of pledged promoter shares and the company's negative EBITDA further contribute to the perception of risk, which could exert downward pressure on the stock in a falling market. Overall, while there is a short-term uptick in price, the underlying financial challenges and market conditions suggest caution for investors.