Coca-Cola reacts after Cristiano Ronaldo’s act devalues the company by USD 4 billion

Cristiano Ronaldo’s gesture toward Coca-Cola during Portugal vs Hungary press conference has lowered the value of the beverage company’s brand.

Cristiano Ronaldo is a global superstar, and everything he does, on and off the field, has ramifications. The captain of Portugal’s team immediately asked people to drink water and avoid Coca-Cola at the opening of his team’s news conference before their Euro 2020 match against Hungary was bound to backfire. It is a well-known fact that Ronaldo takes the finest possible care of his body. The Portuguese great, despite his age of 36, is capable of playing with players ten years his junior.

Ronaldo noticed two Coca-Cola bottles in front of him as he arrived for Portugal’s press conference with manager Fernando Santos. He opted to remove them from the camera perspective entirely.

Despite the fact that Coca-Cola is a sponsor of Euro 2020, Ronaldo did not hesitate to send a strong message, pushing everyone to instead “drink water”. As a result of such a suggestion by the global football superstar, the worth of Coca-Cola’s got out by a staggering 4 billion dollars. Coca-stock Cola’s dipped from $56.10 to $55.22, a 1.6 percent loss, following Ronaldo’s gesture, according to reports. The brand’s market worth dropped from $242 billion to $238 billion (a $4 billion reduction).

Coca-Cola’s statement

Coca-Cola also issued a statement following Ronaldo’s act, stating that “everyone is entitled to their drink choices” because “tastes and needs” differ. “Players get water, along with Coca-Cola and Coca-Cola Zero Sugar, when they arrive at our press conferences,” according to a representative for the Euro 2020 event.

Ronaldo is also one of the best player in history and the GOAT. He has a huge social media following, with over 300 million Instagram followers. Ronaldo’s snub of Coca-Cola went viral on social media, with fans and publishers from all over the world. It had a detrimental influence on the beverage company’s stock prices, which was understandable. Ronaldo scored a brace in Portugal’s 3-0 win over Hungary on Tuesday, breaking several records. He now holds the record for most goals scored in the European Championships with 11 goals.

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