That happens with a lot of old drives. Something about the magnet used to pull up the disk tray not letting go properly when the drive tries to eject.
You'll know that's happening because when you push the eject button you'll hear the cd tray open very slightly (sounds like a 'Tck', pretty loud).
It is possible to fix, however it involves taking the drive apart.
If you just want to get the disk out press the button then tap the drive firmly on the top, near the front of the drive.
RMA it if you can. Otherwise just use it until you're tired of smacking it on the top, then get a new one.
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