Ms. Nigbur and three of her friends took to the internet and found a website that alerts customers to what’s in stock at retailers near them. They learned that their local Target was supposed to get a small shipment of Hatchimals on Friday, so the women arrived at Target at 4:45 a.m. and waited outside in the 20-degree cold. Their efforts paid off. They each purchased a Hatchimal, which Target sold for the suggested retail price – and quickly sold out of. 
 
 “I haven’t decided if Mommy gets to be the star or if Santa will be the one who gets to bring it to her,” said Ms. Nigbur, who said she may be more excited about nabbing the product than her daughter will be to receive it. 
 
 The chase and the rush to find the item is actually part of the appeal when a certain toy — such as Cabbage Patch Kids and Tickle Me Elmo — becomes a phenomenon, according to Mr. Gottlieb. “There is an irrational exuberance on the part of the consumer with these buying frenzies, which leads to a scarcity of product and crazy high prices,” he said. 
 
 Some parents have given up on finding a Hatchimal before the holidays. “I am not proud to say I entered into a raffle to win a Hatchimal on a Facebook group,” said Lindsey Hunter Lopez of Los Angeles, whose 3-year-old daughter asked for the toy. “It was a $10 buy-in for a spot, with 16 spots,” she said. Ms. Lopez did not win the raffle, and said that she would not be hunting for the toy any further. 
 
 Spin Master hopes to keep the excitement going well past the holidays, and promises that 2017 will bring new species of Hatchimals with more features. “We’re telling consumers to just be patient,” said Mr. Martin. “The magic is just as magical in January as it is in December. The experience is just as exciting then. In fact, it may be even a little more because you’ll be getting the first batch of 2017.” 
 
 But will kids still want Hatchimals next year, or will they have moved on? 
 
 “It’s a hit-driven industry and this is an expensive item, which really tend to sell only at holiday time,” said Gerrick Johnson, an equity research analyst at BMO Capital Markets in New York. “That’s why the company is willing to airfreight, which is expensive, in order to capture those spending dollars now; rarely do you have an item like this that works two seasons in a row.” 
 
 Sarah Gough, who lives near Guatemala City, is still halfheartedly searching for a Hatchimal for her 10-year-old daughter, but is not expecting to find one soon. “I looked at our major retailer twice and they don’t have it yet,” Ms. Gough said. She plans to ask her parents to look for the toy in the United States. “But they aren’t really into standing in any lines to pick up toys,” she said. 
 
 To those parents who are not able to buy the toy in time, Dr. Deborah Gilboa, a family physician in Pittsburgh and a parenting and youth development expert, said: “It’s a great lesson in delayed gratification.” ||||| Play Facebook 
 
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 The hottest toy of the holiday season has now hatched a lawsuit. 
 
 A California mom has filed a class-action suit against Spin Master, alleging the Hatchimal toy she bought for her daughter's birthday never popped out of its egg. 
 
 Hatchimals are a plastic grapefruit-sized egg that you rub, tip, and tilt for around 25 minutes until a Furby-like interactive creature is electronically stimulated to poke its beak through the plastic. Then you can remove the top and discover whether your Hatchimal is one of five different cute "species," a "Bearakeet," "Burtle," "Draggle," "Owlicorn," or a "Penguala." 
 
 Related: Hatchimals, Barbie Disappoint Parents and Kids on Christmas 
 
 The $50 toys were the "Tickle Me Elmo" or "Teddy Ruxpin" of the year, with parents lining up outside stores chasing scarce supplies, and bidding up sales on third-party sites to $350. 
 
 But that fever turned to frustration and rage when the presents were opened and kids — and their hapless parents —couldn't get them to hatch. They flooded the company's customer service lines and vented on social media. 
 
 @SpinMaster My daughters Hatcnhimal won't hatch out of it's shell! It won't spin around to peck away at the egg and hatch out. Please advise pic.twitter.com/M9swedO1Ct — Dustin Shammo (@dustinshammo) December 26, 2016 
 
 "When we purchase an iPhone, we expect it to make a phone call. When we purchase a yo-yo, we expect it to come back up," the lawsuit alleged. "Unfortunately, this Christmas season, millions of children and families across the globe were sourly disappointed with coal in their stockings, in the form of a bait-and-switch marketing scheme." 
 
 In a statement to CNBC, Spin Master general counsel Christopher Harrs said that the company "provided troubleshooting support and where required immediately made available replacement products for those few consumers whose toys did not work as they anticipated." 
 
 "The allegations from the class action lawyer are simply inaccurate and not based on actual facts," he added. ||||| This year’s hot holiday toy comes encased in a big speckled egg. 
 
 And it’s sparking a level of mania not seen in years. Desperate parents, along with opportunistic resellers, are lining up outside of big-box stores in the predawn hours every morning in the hopes of getting their hands on the new curious novelty that often sells out within seconds. 
 
 While you may not have heard of them yet, Hatchimals first hit stores in early October and quickly sold out within the first few weeks. The plush toys make cute noises and can be trained to walk and talk. But the big allure is watching them hatch. 
 
 Retailers and consumers alike are going to extreme measures to get them in time for Christmas. Hatchimals, which normally sell for about $60, are now being resold for two to four times the price on sites like eBay and by third-party sellers on Amazon.com and Walmart.com. 
 
 “I’ve been tracking the toy industry for 12 years — I’m not sure I’ve ever seen anything like this,” said Juli Lennett, a toy analyst with the NPD Group. “It’s the Tickle Me Elmo of 2016.” 
 
 The frenzy also has been compared to that for other “must-have” toys from previous decades such as Cabbage Patch Kids, Furbies and ZhuZhu Pets. 
 
 Hot toys of the past 1983 Cabbage Patch Kids 1996 Tickle Me Elmo 1998 Furby 2009 ZhuZhu Pets 
 
 Must-have items can drive traffic and excitement during the holidays, the biggest time of year for toy sales. Target Corp., for example, does about half of its annual toy sales in the fourth quarter. 
 
 To help alleviate the shortage, Canada-based Spin Master, which makes Hatchimals, is ramping up production and flying the products in from China instead of putting them on ships. 
 
 To be sure, Hatchimals aren’t the only toys in high demand this year as the toy industry is in the midst of a two-year resurgence driven by increased innovation. The latest Shopkins, Nerf and Pokemon toys are some of the other big sellers. 
 
 Then there is the Nintendo NES Classic Edition, which is almost harder to get ahold of than Hatchimals. But the excitement over the gaming consoles is being driven less by kids than adults nostalgic for the original systems they grew up with. 
 
 In any case, those on the hunt for the Nintendo NES sometimes find themselves standing shoulder to shoulder outside stores with the Hatchimal chasers. 
 
 The Hatchimals were expected to be a popular item this holiday, having landed on most hot toy lists in early fall. But no one expected them to be this hot. 
 
 Hatchimals have already sold more than 400,000 units in the U.S. in their first seven weeks on the market, a much faster rate than any other toy in its price range, according to the NPD Group. 
 
 Jim Silver, editor of toy review site TTPM, estimates that two-to-three times more Hatchimals will be sold than Tickle Me Elmos in 1996, when they first became the rage. 
 
 “It’s not like they shorted the market,” Silver said. “They’re going to sell over a couple million. You can’t plan for that.” 
 
 Toys ‘R’ Us is chartering planes to fly Hatchimals straight off the production line in China to the U.S. and distributing them to stores as fast as they can, said Richard Barry, the retailer’s chief merchandising officer. He added that stores will have “dozens” of Hatchimals per store this Sunday for $69.99 as part of the chain’s “Great Big Christmas Sale” — and that the company will continue to hustle to replenish inventories through the rest of the season. 
 
 “We are doing whatever it takes to get stuff here as fast as we possibly can,” he said. “I can assure you we’ll be doing that right until the doors close on Christmas Eve.” 
 
 In the meantime, he said the chain’s stores are being inundated with phone calls from customers asking if they have any in stock. 
 
 “We’re seeing people at 4 a.m. in the morning asking our night crew managers, ‘Did you get a delivery overnight?’ and waiting in line to see whether [the] product is available,” he said. 
 
 Wal-Mart sold out of its replenished supply of Hatchimals within minutes on Thanksgiving Day. Target stores have been getting small batches of new products — often just four to six at a time — that are immediately being snatched up by customers, who frequently check Target.com to see which stores might have gotten in some more stock overnight and wait for store doors to open. 
 
 “The team has been working unbelievably hard to keep Hatchimals on the shelves,” said Lee Henderson, a Target spokesman. “They’re literally getting pushed to stores as quickly as possible.” 
 
 Hatchimals also have led to a frenzy in Canada and England and have easily become Spin Master’s fastest selling product, said James Martin, Spin Master senior vice president. 
 
 The toymaker, he said, is as surprised — if not more — about the huge response. The company met with analysts and retailers in advance to forecast demand, comparing sales of similar items and similar price points. Then Spin Master brought in some extra inventory because it felt bullish about the product, he said. 
 
 “We knew we had a good toy, but you can’t predict this,” he said. “Going back six months, there’s nobody who would have ever made the bet it could be this big this fast.” 
 
 He promised there is still “significant quantity” coming in between now and Christmas. And for those who can wait, there will be reinforcements in January. 
 
 As for those reselling the products at inflated prices, he said Spin Master doesn’t support the practice. 
 
 “They have a right to do it, but for us it takes away some of the magic,” he said. “It’s a little heartbreaking to think someone would have to spend that much to get this.” 
 
 So why has Hatchimals struck gold? 
 
 “It’s the magic of actually seeing your pet being hatched,” said Silver of the TTPM toy review site. 
 
 Spin Master says it takes 10 to 40 minutes of holding and touching the egg for it to hatch. Silver’s toy testers found it took more like 30 minutes to two hours. 
 
 “The anticipation a child has is breathtaking,” Silver said. “The toy industry hasn’t seen anything like this.” 
 
 Once it’s hatched, the toy continues to evolve and learn as the child nurtures and plays with it. 
 
 On Thursday morning, three people stood outside the Target store in Richfield, shivering in the misty cold rain and waiting for the doors to open at 7 a.m. in the hopes of getting some Hatchimals. 
 
 One was a grandmother who scoured for Cabbage Patch Kids and Beanie Babies a decade or more ago for her own kids. Another wanted one to resell on eBay. 
 
 The third was a father whose 6-year-old daughter had become enthralled by her friends’ Hatchimals. He had already been to another Target store that morning. 
 
 He and his fellow treasure hunters were in luck. When the store opened, it had four of the toys in stock. 
 
 “I can’t tell you how happy I am,” he said. ||||| The holiday's hottest toy quickly turned into one of its biggest disappointments for many families. Now, that disappointment has led to legal action. 
 
 Jodie Hejduk of Bakersfield, California, has filed a class-action lawsuit against Spin Master, alleging the Hatchimal toy she purchased for her daughter never hatched. 
 
 Hatchimals are stuffed animals that start out inside a spotted plastic egg, and are supposed to hatch when the owner rubs the shell. That process should take 25 to 40 minutes, according to Spin Master's website. 
 
 But that wasn't the case for "millions of families throughout this country," Hejduk said in her lawsuit. 
 
 "Millions of children and families across the globe were sourly disappointed with coal in their stockings, in the form of a bait-and-switch marketing scheme perpetrated by Spin Master, the manufacturers of this Christmas season's 'it' gift, Hatchimals," the lawsuit says. 
 
 
 
 "Spin Master knew that the 'hatching' was one of the primary draws of the toy," the suit continued. "One of the company's senior vice presidents recognized that getting the toy to hatch 'resonates well with kids' and that since children do not know what is inside of the egg 'they get excited about what they may get.' This excitement was replaced with extreme disappointment for the many children when their Hatchimals did not hatch." 
 
 A Hatchimal cost about $50, depending on the retailer. However, the part-Furby, part-Tamagotchi toys were popular on the resale market, where they sold for upward of $250. Many parents lined up outside Toys R Us and Wal-Mart stores to purchase the highly sought-after toy. 
 
 However, once children opened their Christmas presents, the buzz surrounding the toys quickly turned from, "Where do I find one?" to "This thing doesn't hatch." 
 
 "I paid triple the price so I could get my 5 yr. old daughter what she wanted but when it was time to play with it the Hatchimal would not respond inside the egg. We watched every YouTube video we could for help, but to no avail ... we had to open it ourselves," one customer wrote on Amazon.com, according to the lawsuit. 
 
 In a statement provided to CNBC, Christopher Harrs, Spin Master's executive vice president and general counsel, said that "Spin Master stands behind its products and cares about its consumers." 
 
 "Given the popularity of Hatchimals and the overwhelmingly positive consumer response, a large number of Hatchimals were purchased as gifts and opened on Christmas day. As a result, the Company experienced a higher than anticipated number of consumer calls over the holiday period," Harrs said. 
 
 "Spin Master took extraordinary and proactive steps to respond to consumer questions regarding Hatchimals," he continued. "The company provided troubleshooting support and where required immediately made available replacement products for those few consumers whose toys did not work as they anticipated. The allegations from the class action lawyer are simply inaccurate and not based on actual facts." 
 
 Hejduk's lawsuit was filed in the U.S. District Court for the Eastern District of California. 
 
 
 
 Update: This story has been updated to include comment from Spin Master
– The holiday's hottest toy is so hot it sold 400,000 units in just seven weeks, outpacing the infamous Tickle Me Elmo, the Minneapolis Star Tribune reports. It's so hot moms in Utah braved 20-degree weather to line up outside a Target at 4:45am just in hopes of getting one, according to the New York Times. It's so hot the Christian Science Monitor reports third-party sellers are asking six times the retail the price of $59.99—and getting it. And it's so hot Toys 'R' Us is chartering its own planes to fly it directly from the manufacturer in China. They're called Hatchimals, and Fox 8 describes them as "cuddly creatures that hatch from eggs and learn to walk and talk." "By all analyses, we thought we had enough," James Martin, an executive at Hatchimals maker Spin Master, tells the Times. "We had no idea that it would be this big." Experts say the big selling point for kids is the anticipation that builds during the 30 minutes or so it takes to hatch the creature. "Nobody knows why these things happen," one toy expert says. "They're an act of God." Now parents, retailers, and third-party sellers alike are scrambling to get their hands on more Hatchimals before Christmas. But as the Monitor puts it: "If you're...desperate to find one at a reasonable price in time for Christmas, I'm sorry. I'm so very sorry." It recommends giving your kids a Hatchimal IOU instead. (New Zealand "wins Christmas" with nationwide Secret Santa.)