Cristiano Ronaldo snub wipes billions off Coca-Cola’s market value

Cristiano Ronaldo’s removal of two Coca-Cola bottles during a press conference at the Euros has coincided with a $4 billion fall in the share price of Coca-Cola.

The Portugal captain is a renowned health fanatic and made it clear what he thinks of the carbonated soft drink.

The 36-year-old shifted the bottles of Coca-Cola away from him during a press conference in Budapest in the prelude to his country’s Group F game against Hungary.

Coca-Cola’s share price dropped from $56.10 to $55.22 almost immediately after Ronaldo’s gesture, a 1.6% dip. The market value of Coca-Cola went from $242bn to $238bn – a drop of $4bn.

Coca-Cola, one of the official sponsors of Euro 2020, replied with a statement that said “everyone is entitled to their drink preferences” with different “tastes and needs”.

A Euros spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

Ronaldo is a pop culture colossus, boasting nearly 300 million Instagram followers.

[Source: The Guardian]

'Drink water'

Cristiano Ronaldo removes Coca-Cola bottles at start of #Euro2020 press conference pic.twitter.com/2eBujl9vzk

— Guardian sport (@guardian_sport) June 15, 2021