After Cristiano Ronaldo snub, Coca-Cola lost $4 billion
With a calm expression and a slight tinge of mockery, star soccer player Cristiano Ronaldo picks up two glass bottles of Coca-Cola, mumbles the company’s name and sets them aside, then picks up a bottle of water. Shortly afterwards, the market value of the Euro 2020 sponsor dropped by $4 billion.
The captain of the Portuguese national soccer team is a well-known fitness enthusiast. At a press conference in Budapest ahead of Portugal’s Euro 2020 match against Hungary, Ronaldo made his views on soft drinks clear.
Seconds after sitting down, the soccer player removed the Coca-Cola bottles and picked up the water bottle saying “Agua” in Portuguese, a gesture that seemed to encourage people to drink water instead of soft drinks. A video of the episode went viral on social networks.
At press time, Coca-Cola’s share price had fallen from $56.10 to $55.22, down 1.6%. It has now risen to 55.41 dollars.
Coca-Cola’s market value has gone from $242 billion to $238 billion, a drop of up to $4 billion. Coca-Cola is one of the official sponsors of Euro 2020, so the bottles were placed on the table for marketing purposes.
Coca-Cola’s market value drops whopping $4 billion after Portugal star Cristiano Ronaldo removed 2 bottles of carbonated drinks during Euro 2020 press conference, encouraging people to drink water insteadpic.twitter.com/hN0EWiZ2Hfhttps://t.co/cDeHrTXI4U
— DAILY SABAH (@DailySabah) June 16, 2021
Ronaldo, one of the most famous and best soccer players in the world, is a fitness fanatic, something his nearly 300 million followers on Instagram are well aware of. He scored twice in Portugal’s 3-0 win over Hungary on Tuesday, setting a Euro finals record of 11 goals.
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