Ronaldo’s bottle removal gesture costs Coca-Cola $4 billion
Global soft drink giant Coca-Cola Company lost $4 billion value in Market after all-time soccer superstar Cristiano Ronaldo removed two Coca-Cola bottles during a press conference at the Euro 2020 on Monday, the Business Insider reported.
Afghan Voice Agency (AVA)_#Ronaldo, the Portugal Football Team captain, moved the #cola_bottles aside as he sat down to speak to the media before Tuesday’s Group F opener against Hungary.
The 36-year-old followed it by holding a bottle of water before shouting in Portuguese: ‘Agua!’ – the Portuguese word for water.
According to the Insider, Coca-Cola’s shares were trading around $56.17 when the market opened on Monday, but fell 1.6% to $55.22 by the end of the press conference.
“That led to a sharp drop in market value from $242 billion to $238 billion. The soft-drink manufacturer’s shares closed at $55.41 per share on Tuesday,” the report said.
Coca-Cola, one of the official sponsors of Euro 2020, has not officially commented about the incident so far.