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Customers Throng Best Buy Stores On News Of Limited PlayStation, Xbox Availability: Bloomberg

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  • BBY
  • Customers flocked into Best Buy Co Inc (NYSE: BBY) stores following its advertisement of "limited quantities" of Sony Group Corp's (NYSE: SONY) PlayStation 5 and Microsoft Corp's (NASDAQ: MSFT) Xbox Series X, Bloomberg reports.

  • The low stock of the last year's holiday bestsellers worsened by the pandemic, and online resellers played an essential role in driving the demand.

  • The bots monitor e-commerce platforms for inventory changes, automatically placing orders on devices availability.

  • Console manufacturers sparingly released their products, betting on the crisis to maintain the demand. Unconfirmed reports suggested that some Best Buy locations had only 50 units of each console.

  • Price Action: BBY shares traded lower by 0.16% at $106.63 on the last check Thursday.

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