Cristiano Ronaldo's Coca-Cola Snub Followed By $4 Billion Drop In Its Market Value

17th June,2021


Cristiano Ronaldo's Coca-Cola Snub Followed By $4 Billion Drop In Its Market Value


Cristiano Ronaldo, one of the world's most renowned and successful footballers, is a fitness enthusiast who did not take kindly to the Coca-Cola bottles on the table. Star player Cristiano Ronaldo takes up two glass bottles of Coca-Cola, mutters the company's name, then lays them aside before picking up a bottle of water with a deadpan look and a hint of contempt. The Euro 2020 sponsor's market value plummeted by $4 billion not long after. The Portuguese football team's captain is a well-known fitness fanatic. Ronaldo made his feelings on fizzy drinks clear at a news conference in Budapest before Portugal's Euro 2020 match against Hungary. Within seconds after sitting down, the player stows the Coca-Cola bottles and raises a bottle of water, stating in Portuguese, "Agua" (water), as if to encourage others to drink water rather than aerated drinks. The entire episode's footage was extensively circulated on social media. By the end of the press conference, Coca-stock Cola's had declined 1.6 percent, from $56.10 to $55.22. It's currently $55.41 per share. Coca-market Cola's value dropped from $242 billion to $238 billion, a loss of $4 billion. Coca-Cola is one of the official sponsors of Euro 2020, therefore the bottles were put on the table for marketing purposes. Ronaldo, one of the world's most renowned and successful footballers, is a fitness enthusiast, as his almost 300 million Instagram followers are well aware.