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Market Value: Coca Cola Drops By $4 Billion In Company's Response To Cristiano Ronaldo's Act

On Monday, at a Euro 2020 press conference, Cristiano Ronaldo's removal of Coca-Cola bottles resulted in knocking down the company's market value by $4 billion.


KEY HIGHLIGHTS



  • Duringthe press conference for the match between Portugal and Hungary, Cristiano Ronaldo snubbed Coca-Cola and encouraged fans to drink water instead.

  • The relocation resulted in Coca-share Cola's price dropping from $5610 to $5522.

  • In response to Ronaldo's action, the drink industry said, “everybody is qualified to their beverage choices.”


Euro 2020_Ronaldo Image Source: https://images.app.goo.gl/tGq8r9NcBc1C5w1W7


Cristiano Ronaldo, the star player and, international superstar prioritizes his health over anything else. 


As a global star, his every action/ act is impactful, be it off and on the field. 


The act of the Portugal captain encouraging people to drink alcohol water and, avoid Coca-Cola right at the start of his team's interview in preparation for the Hungary match in Euro 2020 was sure to have an impact.


Following the act, Ronaldo held out a water bottle and exclaimed, "Agua!" in Portuguese, as though encouraging people to drink water.


Ronaldo and his manager, Fernando Santos, had arrived at the press conference, and as soon as he saw the two bottles in front of him, he immediately moved them out of sight and advised everyone to drink water instead.


Ronaldo is well-known for taking excellent care of his body. Even at the age of 36, the Portuguese superstar and Juventus FC striker are capable of taking on players ten years his junior.


Even though Coca-Cola is one of the Euro 2020 sponsors, Ronaldo did not hesitate to send out a strong message, advising everyone to "consume alcohol water" instead of sugary drinks. Such a message by the international football superstar resulted in global beverage giant Coca-Cola Company losing $4 billion in market capitalization.


According to reports, Coca-stock Cola's price dropped from $5610 to $5522, a 1.6 percent drop, just after Ronaldo's action. As a result, the brand's market value dropped from $242 billion to $238 billion (a $4 billion reduction).


Coca-Cola is valued at $238.35 billion in total, and the stock price has grown to $55.29 a share.


In response to this matter, Coca-Cola issued a statement stating that everyone is entitled to their drink preferences because people have varied tastes and demands.


The statement said, "everybody is qualified to their beverage choices” as individuals have various “preferences as well as requirements."


A spokesperson in the Euro 2020 competition also expressed his thoughts on the subject, claiming, “Gamers are provided water, together with Coca-Cola as well as Coca-Cola No Sugar, on arrival at our interview.”


The veteran has a tight diet and is known to avoid sugary foods, which is the reason the Portugal captain does not prefer sugary drinks. To preserve his remarkable figure, Ronaldo is said to eat up to six clean meals every day.


Ronaldo, one of the greatest players with over 300 million Instagram followers, has a significant social media following. The video of Ronaldo snubbing Coca-Cola went viral on social media, with many followers and authors sharing it widely. Not unexpected, it harmed the drink manufacturer’s supply rates. 


In Portugal's 3-0 victory over Hungary on Tuesday, Ronaldo shattered multiple records by scoring a goal. With 11 goals under his belt, he is the all-time leading goalscorer for the European Champions.


 


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Tags: Coca cola Euro 2020 Cristiano Ronaldo Portugal


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