Euro 2020: Coca Cola loses $4 billion as Cristiano Ronaldo removes soft drink bottles & endorses water.
During a Euro 2020 conference, star player Cristiano Ronaldo removed the coca-cola bottles from in front of him and this had a rather negative impact on the soft drink brand. It appears to be that Cristiano is not one of the consumers of carbonated soft drinks hence he chose to pick up the bottles and remove them from the table while endorsing drinking more water. This gesture of the footballer has reportedly caused the company $4 billion in stock value. The Coca-Cola stock prices dropped 1.6% and went from being USD 242 billion to USD 238 billion according to a report in The Daily Star.
As the incident goes, Cristiano had come to the media during a conference ahead of their Group F opener against Hungary. Before starting the series of questions and answers, Cristiano removed the two bottles of Coca-Cola as he picked them up and put them aside. He followed the gesture by holding a water bottle and shouting ‘Agua’ in Portuguese.
According to a report in The Sun, the soft drink company has since issued a statement based on Cristiano’s gesture saying, “everyone is entitled to their drink preferences” and that everyone has different “tastes and needs”. A spokesperson added, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”
Ronaldo, 36, is one of the fittest athletes in the game. He is known to be keeping a rather strict diet and workout regime to perform excellently on the football field. Recently Ronaldo scored two goals against Hungary and went ahead of France’s Michel Platini to become a record goalscorer and take his tally to 11.