Benzinga | Sep 23, 2021 03:11PM EDT

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

* 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.