Cristiano Ronaldo’s one gesture wipes $4 bn off Coca cola’s market value
Team Udayavani, Jun 16, 2021, 5:03 PM IST
Coca-Cola, the Euro 2020 sponsor lost a whopping $4 billion in its market value on Tuesday, June 15 as star footballer Cristiano Ronaldo moved the two glass bottles of Coca-Cola during a press conference and held up a bottle of water.
Ronaldo, who is a known fitness enthusiast, during the press conference after the UEFA Euro 2020 match against Hungary , can be seen sliding the Coca-Cola bottles aside, taking the brand’s name before picking up a bottle of water and saying “Agua.”
The short video clip of the incident surfaced on the internet.
Water only for Cristiano Ronaldo ⛔
— B/R Football (@brfootball) June 15, 2021
According to IANS report quoting Spanish newspaper Marca, this led to Cola’s shares taking a dive, leaving the company with billions of dollars in losses.
In a statement, Coca-Cola which is one of the official sponsors of Euro 2020 said, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.” The spokesperson further said that people have different tastes and needs.
Coca-Cola’s share price dropped to $55.22 from $56.10. The market value of the brand saw a dip of $4 billion from $242 billion to $238 billion.
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