The gesture of Cristiano Ronaldo moving the Euro’s 2020 sponsored Coca-Cola drinks from the press conference has reportedly cost the company a loss of $4 billion.
Cristiano Ronaldo, ahead of representing his country at the group-stage match against Hungary, removed the two bottles of Coca-Cola and replaced them with water bottles. His gesture reportedly caused the $4bn fall in the share price of Coca-Cola.
Cristiano Ronaldo gesture has caused $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. #CristianoRonaldo #CocaCola pic.twitter.com/yQELcMiioX
— Deewash subedi (@deewashsubedi55) June 16, 2021
The football star then moved forward by holding a water bottle and saying “Agua(water)”. The share price of Coca-Cola fell from $56.10 to $55.22 after a 30-minute long press conference of Ronaldo promoting drinking water instead of fizzy drinks.
Social media reaction
The video of Cristiano Ronaldo replacing the Coca-Cola bottles with water went viral on social media creating an online controversy. On Tuesday, Coca-Cola released a statement on the issue in which it said that “everyone is entitled to their drink preferences” with different “tastes and needs”.
Euro also expressed their views on the issue. “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences,” said Euro. Coca-Cola is one of the sponsors at UEFA’s flagship tournaments.
— M (@M__islam_) June 16, 2021
Coca Cola lost $4 billion in value today after the CR7 gesture of removing the bottles went viral. #CocaCola was valued at $242 billion before Ronaldo's gesture and afterwards, it went down to $238 billion.
Cristiano Ronaldo caused a fall of 1.6% in Coca Cola's value. pic.twitter.com/PhplfjBBlp
— Abdullah. (@SaidbyAbdullah) June 15, 2021
The soccer star has already voiced his dislike for the sugary, fizzy soft drink. According to him, abstaining from soft drinks enables him to remain fit at the age of 36. He has not even allowed his son Cristiano Ronaldo Jr to not consume soft drinks.
“I’m hard with him sometimes because he drinks Coca-Cola and Fanta sometimes and I’m angry with him,” Ronaldo admitted.
“I fight with him when he eats chips and fries and everything, he knows I don’t like it.”
Social media users are surprised over the massive reaction to Cristiano Ronaldo moving the soft drink bottles a few inches away. Others believe that Ronaldo pushing the bottles away purportedly implies that he does not support Coca-Cola being the official sponsor.