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Ronaldo’s snub cost billions to Coca-Cola’s market value: reports

  • June 16, 2021

Beverage giants
Coca-Cola has reportedly suffered a dip of up to $4 billion in its market value
after Portuguese superstar Cristiano Ronaldo moved Coke bottles out of frame
during the Euro 2020 press conference on Tuesday.

Coke is one of the many sponsors at UEFA’s flagship
tournaments and their product was seen on the desks at press conferences ahead
of Portugal’s 3-0 win over Hungary.

According to The Guardian, Ronaldo’s actions coincided with
a $4 billion decrease in Coca-Cola’s market value, dropping from $242bn to
$238bn in the aftermath of the press conference.

While removing the iconic bottles from the desk, Ronaldo
shouted in Portuguese: ‘Drink water!’

The report stated that the company’s share prices slumped
from $56.10 to $55.22.

In response to Ronaldo’s actions, UEFA said that “everyone
is entitled to their drink preferences”.

“Players are offered water, alongside Coca-Cola and
Coca-Cola Zero Sugar, on arrival at our press conferences,” a spokesperson
added as quoted by Daily Mail.

Portugal went on to beat Hungary in their opening match on
Tuesday where the 36-year-old scored a brace.

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