The media reported that 16-year-old Max Hayden took advantage of the shortage of Xbox and PS5 consoles, selling them for $1.7 million. He also sold Pokémon cards.
The young genius took advantage of the shortage of consoles. In a year and a half, his net profit was about $110,000. He sold consoles for around $1,100, while the recommended price was only $500.
In addition, Hayden resells Pokémon cards, trainers, and other scarce items.
It is worth noting that Sony and Microsoft are well aware of the ongoing shortage of gaming systems. They are doing their best to stabilize the situation, but it is still a long way from being fully stabilized.
While scalpers and bots are among the main reasons contributing to stock shortages of consoles and other electronics, the other cause is the global chip shortage made worse by the ongoing pandemic. Experts and industry insiders reported in March that the worldwide shortage of chips is nowhere near being solved. Given this, players should expect that both the PS5 and Xbox Series X will still be difficult to get in the coming months, with some reports claiming that shortages will continue until the second half of 2021.