Ever since the release, PlayStation 5 consoles and Xbox series consoles have been like the dust of gold. PS5 and Xbox series consoles are difficult to get because of the pandemic.
But amidst this entire problem, a 16-year-old tech-savvy teenager saw a big opportunity. The 16-year boy Max Hayden is a High-School junior. He is from Hopewell Township, Central New Jersey. This 16-year-old teenager bought and resold many consoles for approximately $1100, double their retail price.
In Wall Street Journal, it is reported that Max Hayden has made a huge profit which is approximately more than $110,000 on 1.7 million dollars in revenue. He made this money by buying up tough goods to hold in the pandemic situation and reselling them. He buys and resells different items like patio heaters, Pokémon cards, PS5 and Xbox series consoles, etc.
Max Hayden now co-rents a big warehouse space. He also pays two of his friends for help with the venture.
He is not the only one who’s taken this circumstance as an opportunity. Different scalpers, entrepreneurial-types have taken this pandemic to collect small fortune by buying and reselling products or goods which are hard to find nowadays.
The shortage of consoles has taken place due to the well-documented shortage of semiconductors. This affects many products such as TV, phones, etc.
As the media and tech analyst of Mirabaud Neil Campling told the Guardian, “Chips are everything. There is a perfect storm of supply and demand factors going on here. But basically, there is a new level of demand that can’t be kept up with, everyone is in crisis, and it is getting worse.”
