EURO 2020 Blues:Ronaldo’s Coke Snub Has Resulted In A $4 Billion Drop In The Coca-Cola’s Market Value

Cristiano Ronaldo, the world’s most famous player, takes up two glass bottles of Coca-Cola, mutters the company’s name, then lays them aside before holding up a bottle of water. Soon after, the Euro 2020 sponsor’s market value fell by $4 billion. 

The Portuguese football team’s captain is a well-known fitness fanatic. Before Portugal’s match versus Hungary at the European Championships, a news conference was held in Budapest.

Within seconds after sitting down, the player puts the Coca-Cola bottles away and raises a bottle of water, stating “Agua” (water) in Portuguese, in an apparent attempt to urge others to drink water rather than aerated drinks. The entire episode’s footage was extensively circulated on social media. 

Coca-stock Cola’s price fell from $56.10 to $55.22 at the end of the press conference, a 1.6% decline. It is currently worth $55.41. 

Coca-market Cola’s value fell from $242 billion to $238 billion, a $4 billion decrease. 

Coca-Cola is one of the official sponsors of Euro 2020, therefore the bottles were put on the table for marketing purposes.

Ronaldo, one of the world’s most renowned and successful footballers, is a fitness enthusiast, as evidenced by his over 300 million Instagram followers. On Tuesday, he scored twice in Portugal’s 3-0 win over Hungary, tying a European Championship finals record with 11 goals.

%d bloggers like this: