Coca-Cola loses $4 billion as Ronaldo removes its bottles and endorses water
Footballer Cristiano Ronaldo’s removal of two Coca-Cola bottles during a press conference at the Euro 2020 has led to drastic loss for the drinks giant.
The 36-year-old winger had removed the coca-cola bottles from front of him and followed it by holding up a bottle of water before shouting in Portuguese: “Agua!”, appearing to encourage people to choose that instead.
The Juventus star is a renowned fitness freak who maintains a strict healthy diet. The episode has caused the company $4 billion in stock value.
Coca-Cola’s share price dropped from $56.10 to $55.22 almost immediately after the incident, a 1.6% dip. Their market value went from $242bn to $238bn – a drop of $4bn.
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