It would appear that drastic price cuts do create a stampede effect – especially when it comes to personal devices.

Hewlett-Packard announced last week that it is “killing off” its personal computer business and opting for a more information-oriented approach to business.

In line with this radical change in the company, HP has slashed the prices of its TouchPad units by as much as $349. The 16 GB version of the TouchPad now sells for $100 from $399, while the 32 GB version sells at $150 from $499.

This drastic cut in prices has effectively made the TouchPad a best seller at Best Buy and Amazon despite the fact that the TouchPad will no longer be supported by HP.

Demand for the units was so high that one suburban Los Angeles branch of Best Buy had a line snaking around the corner of the store. Even Barnes and Noble had to cancel orders placed by consumers – resulting in its Twitter feed being hit by a spate of angry tweets.

Those looking to avail of the bargain still have hope, however.

“Regarding ‘next batch’ coming in…it’s called a warehouse. No more being made, but have inventory coming from ones already manufactured,” tweeted HP’s Bryna Corcoran.

Consumers need to act fast, though. HP already put up a “SOLD OUT” banner on its website, with other suppliers soon to follow suit.