Coca Cola loses $4 billion

Coca loses $4 billion after Ronaldo pushed their bottles away from the table at a press briefing.

With a deadpan face and the slightest tinge of derision, star footballer Cristiano Ronaldo picks up two glass bottles of Coca-Cola, mutters the company’s name and sets them aside before holding up a bottle of water. Not long after, the Euro 2020 sponsor saw its market value drop by $4 billion.

Coca Cola loses $4 billion

The captain of the Portugal football team is a well-known fitness enthusiast. At a press conference in Budapest before Portugal went up against Hungary at Euro 2020, Ronaldo made it well known what he feels about carbonated drinks.

Within seconds of sitting down, the footballer puts the Coca-Cola bottles away and holds a bottle of water up saying, “Agua” (water) in Portuguese in a gesture appeared to encourage people to drink water instead of aerated drinks. The video of the whole episode was shared widely on social media.

Coca-Cola’s share price dropped from $56.10 to $55.22 by the end of the press conference – a 1.6 per cent drop. It has now risen to $55.41.

The market value of Coca-Cola went from $242 billion to $238 billion – a drop of a whopping $4 billion.

Coca-Cola is one of the official sponsors of Euro 2020 because of which the bottles were placed for marketing on the table.

Have a look at the video below.