Cristiano Ronaldo’s one gesture wipes $4 bn off Coca cola’s market value

Team Udayavani, Jun 16, 2021, 5:03 PM IST

Source: Twitter

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 ⛔

(via @EURO2020) pic.twitter.com/XZBDoDnIZJ

— 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.