- Customers flocked into Best Buy Co Inc BBY stores following its advertisement of "limited quantities" of Sony Group Corp's SONY PlayStation 5 and Microsoft Corp's 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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