Euro 2020: Coca Cola loses $4 billion as Cristiano Ronaldo removes soft drink bottles and endorses water
During a Euro 2020 conference, star player, Cristiano Ronaldo removed some coca-cola bottles in front of him and this had a rather negative impact on the soft drink brand.
Cristiano Ronaldo 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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