Cristiano Ronaldo may have cost Coca-Cola billions in market value after snubbing the drink

Coca-cola Down!!!

International soccer star Cristiano Ronaldo may have cost Coca-Cola billions in market value after snubbing its flagship soda at a press conference.

Ronaldo, captain of Portugal’s national team, sat behind two bottles of Coca-Cola during a Monday press conference for the Euro 2020 tournament. Ronaldo was there to preview Portugal’s upcoming Group F opener against Hungary.

As the press conference was starting, “Ronaldo, an advocate of a healthy diet, moved the glass bottles out of the camera frame and instead held up a bottle of water and said in Portuguese: ‘Water!’” ESPN reported. “Coca-Cola saw its share price drop by 1.6% to $55.22 soon after Ronaldo’s actions. The market value went from $242bn to $238bn – a $4bn drop.”

Coca-Cola is an official sponsor of the Euro 2020 and its drinks are offered to players free of charge at every press conference.