Coca Cola's market value drops by $4 billion after Ronaldo sets aside its bottles
Budapest : Euro 2020 sponsor Coca-Cola registered a drop in market value of USD 4 billion after star footballer Cristiano Ronaldo picked up two bottles and put them aside during a press conference.
Portugal football team captain is well-known for his fitness and at a press conference in Budapest before Portugal went up against Hungary at Euro 2020, Ronaldo made it well known what he feels about carbonated drinks.
Seconds after taking his seats, the footballer picked up coca cola’s bottles to put them away from the desk and held a bottle of water up saying, "Agua" (water) in Portuguese. He did this to encourage people to drink water more than the aerated drinks. The video of the whole incident has now gone viral on the internet.
Coca-Cola's share price dropped from $56.10 to $55.22 by the end of the press conference - a 1.6 percent drop. It has now risen to $55.41.
The market value of Coca-Cola went from $242 billion to $238 billion - a drop of a whopping $4 billion.
It must be noted that Coca-Cola is an official sponsor of Euro 2020; this is among the reasons why the bottles were placed on the table.
On Tuesday, he scored twice in Portugal's 3-0 win over Hungary setting a record at the European Championship finals with 11 goals.