Business
Ronaldo’s bottle removal gesture costs Coca-Cola $4 billion
Global soft drink giant Coca-Cola Company lost $4 billion value in Market after all-time soccer superstar Cristiano Ronaldo removed two Coca-Cola bottles during a press conference at the Euro 2020 on Monday, the Business Insider reported.
Ronaldo, the Portugal Football Team captain, moved the cola bottles aside as he sat down to speak to the media before Tuesday’s Group F opener against Hungary.
The 36-year-old followed it by holding a bottle of water before shouting in Portuguese: ‘Agua!’ – the Portuguese word for water.
According to the Insider, Coca-Cola’s shares were trading around $56.17 when the market opened on Monday, but fell 1.6% to $55.22 by the end of the press conference.
“That led to a sharp drop in market value from $242 billion to $238 billion. The soft-drink manufacturer’s shares closed at $55.41 per share on Tuesday,” the report said.
Coca-Cola, one of the official sponsors of Euro 2020, has not officially commented about the incident so far.