Coca-Cola Record A Massive Loss After Cristiano Ronaldo Snubbed The Drink

KEY POINTS:

  • Coca-Cola is counting massive losses after Portugal Captain Cristiano Ronaldo removed the bottles of the drink out of his sight in a press conference.
  • Appearing at a press conference on the Euros tournament, Ronaldo removed the Coca-Cola drinks out of his sight which has made the company record a loss of $4bn.
  • Ronaldo instead, told people to drink water during a press conference in Budapest on Monday in the prelude to his country’s Group F game against Hungary.

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Coca-Cola is counting massive losses after Portugal Captain Cristiano Ronaldo removed the bottles of the drink out of his sight in a press conference.

Appearing at a press conference on the Euros tournament, Ronaldo removed the Coca-Cola drinks out of his sight which has made the company record a loss of $4bn.

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Ronaldo instead, told people to drink water during a press conference in Budapest on Monday in the prelude to his country’s Group F game against Hungary.

Ronaldo followed it by holding up a bottle of water before declaring in Portuguese: “Agua!”, appearing to encourage people to choose that instead.

According to the Guardian, Coca-Cola’s share price dropped from $56.10 to $55.22 almost immediately after Ronaldo’s gesture, a 1.6% dip. The market value of Coca-Cola went from $242bn to $238bn – a drop of $4bn.

Coca-Cola, one of the official sponsors of Euro 2020, replied on Tuesday with a statement that said “everyone is entitled to their drink preferences” with different “tastes and needs”.

A Euros spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

Ronaldo is a pop-culture colossus, boasting nearly 300 million Instagram followers.

On Tuesday, he scored twice in Portugal’s 3-0 win over Hungary – moving beyond France’s great Michel Platini as the record goalscorer at the European Championship finals with 11.

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