Coca-Cola lose USD 4 Billion after Cristiano Ronaldo moves bottle and ‘Endorses’ Water

Cristiano Ronaldo‘s action of moving two Coca-Cola bottles had a negative impact on the brand. During the press meet ahead of Portugal vs Hungary match, the Portuguese star said he isn’t a fan carbonated soft drinks and removed the two Coca-Cola kept in front of him for endorsement purposes for the Euro 2020. He encouraged people to drink water instead.

He followed it by holding a bottle of water before shouting in Portuguese: ‘Agua!’ Shortly after the incident, ‘Cristiano Ronaldo Coca Cola video’ began trending on social media with fans lauding him for promoting healthy food choices as a sports icon. However, the CR7’s action had a real-world impact as Coca-Cola’s stock prices dropped 1.6% as they went from being worth USD 242 billion to USD 238 billion, which is a loss of USD 4 billion, according to a report in The Daily Star. 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.”

The 36-year-old has now also extended his record as the only player to score in five separate Euros finals, and has also played the most games, with the match against Hungary being his 22nd since he made his debut in 2004.