Coca-Cola stock price falls after Christiano Ronaldo’s gesture

On Monday, At the Euro 2020 press conference, Before the Portugal-Hungary match, Christiano Ronaldo moved two coca-cola bottles out of sight and picked up a bottle of water. Soccer player’s gesture cost almost 4 billion U.S. dollars for the soda giant!

After Ronaldo’s action, Coca-Cola’s stock price fell from $56.17 to $55.22.

The company’s market value fell from 242 billion U.S. dollars to 238 billion U.S. dollars.

Ronaldo, who promotes healthy eating, moved the glass bottle out of the camera frame, lifted a water bottle instead, and yelled, “Agua!”. Agua is water in the Portuguese language.

Coca-Cola is among the major sponsors of the UEFA EURO 2020 tournament. A statement from the company stated that everyone has the right to choose their beverage preferences.

However, Ronaldo decided to demonstrate his preference pretty obviously. Ronaldo is known for his impressive physique and said that he avoids alcohol and carbonated drinks to maintain his health.

According to reports, a spokesperson for Euro 2020 said the players would get water at their press conference, Coca-Cola and Coca-Cola zero sugar.

Christiano Ronaldo might have started a new trend

On Tuesday, French midfielder Paul Pogba removed a Heineken beer bottle in front of him at a press conference.

Paul Pogba is a Muslim and does not drink alcohol. After winning the match over Germany in Munich, he was named the best player in the game. He sat down and got rid of the bottle during an interview with the media.

Heineken and Coca-Cola are both official sponsors of Euro 2020. Coca-Cola’s partnership with UEFA dates back to 1988. The company has a long tradition of supporting all sports and allows investment in football at all levels.

When the stock market closed on Tuesday, Coca-Cola’s stock price rose to $55.41.