Meta's value plunges and Amazon sets price hike for Prime membership

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Speaker 1: This is CNET. And here are the stories that matter right now, shares of meta Facebook's parent company fell more than 26% on Thursday, wiping out almost 240 billion of the company's worth. Earlier this week, the company reported disappointing fourth quarter earnings and a drop in the number of active Facebook users. According to Reuters, this was the largest single day drop in market value ever for an American company. Amazon has announced a price hike for its prime service [00:00:30] up to $139, an increase of $20. And the first increase since 2018, the company says it justifies the increase by upping their prime video offerings with more of blockbuster titles, as well as an exclusive license to the NFL's Thursday night football. Regardless, this increase comes on the heels of the company's fourth quarter earnings report where its profits nearly doubled despite a relatively muted holiday shopping season, labor shortages, and supply chain issues. Speaker 1: [00:01:00] And finally, this week, Pfizer has appli eye to the food and drug administration seeking emergency use authorization for its COVID vaccine in young children. The company in its partner Biointech are seeking approval of a two dose vaccine regimen for children each six months through four years old, while the vaccine is expected to be a three dose series and roughly one 10th, a dose of the 12 and up vaccine, the FDA will start to review of the data as part of a rolling submission process. A panel of experts will vote on February 15th, whether or not the FDA should approve the [00:01:30] vaccine day to date with the latest by visiting CNET.

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