Cristiano Ronaldo’s small gesture at a pre-match press conference, ahead of the Euro 2020 clash between Portugal and Hungary, has left a big dent in Coca-Cola’s market value.
At the pre-match press conference, Ronaldo pushed aside a couple of Coke bottles that were kept in front of him. After moving the bottles out of the frame, he then went on to display a water bottle in front of the press gathered for the conference.
Ronaldo also said “agua” which means water in Portuguese, after holding up the bottle of water as a sign of endorsement. His gesture soon went viral on various social media platforms and was shared widely across the globe.
Coca-Cola, which is one of the official sponsors of Euro 2020, saw its market value dip by a whopping $4 billion, just a few hours later.
Coca-Cola’s stock price dropped 1.6 per cent, down from $56.10 to $55.22 after the footballing star’s gesture. The market value of the popular beverage brand dipped $4 billion from $242 to $238 billion.
Issuing a statement on the matter, Coca-Cola said, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.” They further said “everyone is entitled to their drink preferences” and that everyone has different “tastes and needs”.
It is no secret that Ronaldo, one of the greatest footballers in the world, follows a strict diet and avoids sugary drinks. Even at 36, the Portuguese captain can give younger players a run for their money on any given day.
During Tuesday’s march, Portugal secured a hard-fought victory over Hungary, scoring three late goals. Two of those goals were scored by Cristiano Ronaldo, making him the all-time top scorer in the history of the tournament.
