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CocaCola loses $4 Billion after Cristiano Ronaldo moves coke bottles and endorses water

He advised to drink water instead.

Cristiano RonaldoCristiano Ronaldo moves coke bottles, during a press conference | OyeYeah News
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Coca-Cola loses $4 billion after Cristiano Ronaldo moves coke bottles and endorses water!

During a press conference ahead of Portugal’s Euro 2020 opener against Hungary, Ronaldo looked at two glass bottles of Coca-Cola, an official sponsor of the tournament, and removed them from his front.

He placed the bottles out of sight, Ronaldo held a bottle of water and said Aqua, and proclaiming to the assembled journalists he said people should “drink water”.

That cheeky moment from the football great has caused a $4billion loss for Coca-Cola.

Coca-Cola went from being worth $242 billion to $238 billion a brutal 1.6% drop for the company on the stock market.

At the start of the press conference, as per The Athletic report, Coca-Cola’s shares were worth $73.02 each but by the end, they’d dropped to $71.85 — a 1.6 percent dip in value that was worth a total of $5.2 billion.

Coca-Cola issued a statement in response to Ronaldo’s antics, saying that “everyone is entitled to their drink preferences” and 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.”

Meanwhile, the stunt has left keyboard warriors busy on Twitter:

 

 

the authorSaman Siddiqui
Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.