Coco-Cola Loses $4Billion After Cristiano Ronaldo Snubs the Coke
Coco-Cola company loses $4 Billion after footballer Cristiano Ronaldo removes Coca-cola bottles from UEFA Euro 2020 press conference ahead of Portugal’s match against Hungary on Monday.
Ronaldo who has been vocal about a healthy diet, removed the bottles of carbonated drinks and advised to drink water instead.
The Coco-Cola Company is a sponsor in the Euro 2020. Its share price dropped from 56.10 dollars to 55.22 dollars almost immediately after Ronaldo’s gesture, thus the market value of the brand going down from $242bn to $238bn (a drop of $4bn).
In a similar incident, France star midfielder Paul Pogba followed Cristiano Ronaldo’s footsteps and removed a Heineken bottle placed on his table at a press-conference. The beverage company is also one of the sponsor of UEFA Euro 2020.