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.
Cristiano Ronaldo was angry because they put Coca Cola in front of him at the Portugal press conference, instead of water! 😂
He moved them and said "Drink water" 😆pic.twitter.com/U1aJg9PcXq
— FutbolBible (@FutbolBible) June 14, 2021
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 lost $4 billion in value today after the CR7 gesture of removing the bottles went viral. #CocaCola was valued at $242 billion before Ronaldo's gesture and afterwards, it went down to $238 billion.
Cristiano Ronaldo caused a fall of 1.6% in Coca Cola's value. pic.twitter.com/PhplfjBBlp
— Abdullah. (@SaidbyAbdullah) June 15, 2021
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.