Following Monday's "overdone" sell-off in Marathon Digital (NASDAQ:MARA), DA Davidson analyst Christopher Brendler reiterates his Buy rating on the company, he writes in a note to clients. Shares of MARA slightly gain 0.6% intra-day. Recall earlier this week that Marathon Digital (MARA) stock dropped about 25% after the company offers $500M in debt to raise capital to acquire more Bitcoins (BTC-USD), now upsized to $650M. Additionally, the company disclosed its subpoena from the Securities and Exchange Commission regarding its Hardin, Montana, data center facility, though Brendler thinks Marathon's pull back on Monday was more due to the debt offering. "We don't see much risk around the potential securities violation and would use any further weakness as a buying opportunity," Brendler notes. "With the stock trading at 9x our updated 2023 adjusted EPS estimate, the risk/reward has improved dramatically in just 24 hours." The Buy rating diverges from the Neutral Quant Rating, which has stood at
