GameStop Corporation GME put on sale Tuesday the latest consoles from Sony Corporation SNE and Microsoft Corporation MSFT but soon exhausted the “very limited” stock.
What Happened: Gaming Twitter account Wario64 gave out information to the online-only stock on Tuesday.
The information was later confirmed by GameStop through a tweet.
New consoles alert -- A limited number of PS5 & Xbox Series X console bundles have become available here: https://t.co/DjRiMhmVgI— GameStop (@GameStop) March 9, 2021
Make sure you're signed in and your cart is clear.
If you miss out on this round, don't worry. We'll keep you posted as more become available! pic.twitter.com/ZZB1eEIuxJ
A tweet put out over two hours after by GameStop alerted customers that the company had already sold out the Xbox Series.
Why It Matters: As of press time, both the consoles were marked “Out of Stock” on the game retailer’s website.
On Tuesday, Target Corporation TGT was reported to have both the disc and digital editions of PS5 in stock but those too were sold out, the Verge reported.
There have been shortages of PS5 consoles since the day the device was launched in Japan in November.
The shortages have not dissuaded Sony from launching the console in new markets such as China. Sony sold 4.5 million PS5 units last year.
Price Action: GameStop shares closed almost 26.9% higher at $246.90 on Tuesday and rose 5.71% in the after-hours session to $261.01.
Photo courtesy: Oxiq via Wikimedia
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.