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

Saman SiddiquiJune 16, 2021

0 444 1 minute read

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”.

https://twitter.com/IbnAdam34/status/1405060100809584642

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:

#CocaCola

Reel Real
Influencers. Influencer. pic.twitter.com/XCNFJkbWwh
— Varsha saandilyae (@saandilyae) June 16, 2021

DUMP #COCACOLA! pic.twitter.com/EmFxVZxNDN
— ⓟolⓚad⬡t ₿🅡own (@bitcoin_brown) June 15, 2021

The Head of marketing of Coca-Cola when #Ronaldo moved the bottles placed in front of him during the press conference #CocaCola pic.twitter.com/kWouNUwnHg
— Gracie (@Crabcountess) June 16, 2021

Elon – I can move the market with one tweet
Ronaldo- "Hold my bottle"🤣🤣#CocaCola #Ronaldo pic.twitter.com/vkVdMlVser
— Nilisha Mantri (@nilishamantri_) June 16, 2021