Cristiano Ronaldo’s Coca Cola Snub Cost 4 billion dollars drop in market value

Football News: Cristiano Ronaldo’s moving of Coca Cola bottles aside at a Euro 2020 press conference on Monday was followed by 4 billion dollars being knocked off the company’s market value.

Ronaldo was talking at a press conference ahead of Portugal’s games against Hungary on Monday when the soft drink coca colas were placed in front of his seat to drink. The 36-year-old moved them from view and kept aside saying that people should ‘drink water’ instead of drinking such drinks.

The signal coincided with a significant impact on the Coca Cola’s market value now.

Ronaldo Moves Coke Bottles & Endorses Water; Coca Cola Loses $4 Bn

What happened exactly.?

Coca Cola’s shares in the market value were worth $56.1 each when the market opened in Europe on Monday morning. But by the end of the press meet with Ronaldo, they had fallen to $55.2 each share value.

That said by the Coca Cola company that it is still worth $238.35 billion overall and the market value has since risen back to $55.29 for each share.

That is around 1.6 percent drop in each share price, which means a $4 billion loss in net market value.

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How did the Coca Cola company respond to Ronaldo’s comments.?

The Coca Cola responded to the initial comments by saying that “everyone is entitled to their drink preferences” and that everyone is having different “tastes and needs”.

“Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, and other soft drinks as well on arrival at our press conferences,” one of the spokesperson added.

Cristiano Ronaldo‘s thought that, to eat up to six clean meals a day to help maintain his fabulous physique. The veteran has an amazing strict diet and is known to not take sugary foods.

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  1. June 17, 2021

    […] Also Read Cristiano Ronaldo’s Coca Cola Snub Cost 4 billion dollars drop in market value […]

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