Why is Swiggy falling/rising?

As of 29-Aug, Swiggy Ltd's stock price is currently at 409.75, reflecting a decline of 11.2 points or 2.66%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decrease of 4.93% during this period. Today's trading saw the stock touch an intraday low of Rs 406.5, and the volume traded was significantly lower than average, indicating a drop in investor participation. Additionally, the stock has shown a year-to-date decline of 24.20%, contrasting with the Sensex, which has gained 2.14%. The company's fundamentals are concerning, with operating losses and a negative EBITDA, which contribute to its weak long-term strength.
Broader market context indicates that Swiggy's recent performance is notably worse than the benchmark, as it has underperformed the Sensex by 4.33% over the past week and 0.92% over the past month. Despite having high institutional holdings that have increased by 7.74% in the previous quarter, the company's ability to service its debt is weak, reflected in a poor EBIT to Interest ratio of -34.10. This financial instability, combined with flat results and declining profits, positions the stock as risky compared to its historical valuations, further influencing its downward trajectory in the market.