After Cristiano Ronaldo snub, Coca-Cola misplaced $4 billion
Global beverage big Coca-Cola Company misplaced $4 billion in market capitalisation following Cristiano Ronaldo’s removing of two Coca-Cola bottles throughout a press convention on the Euro 2020.
The 36-year-old Portuguese and Juventus FC striker moved the 2 bottles apart as he spoke to the media forward of Portugal’s first sport of the event towards Hungary.
Ronaldo adopted it by holding up a water bottle earlier than saying “Agua!” in Portuguese and showing to encourage folks to decide on water.
According to Australian Associated Press, Coca-Cola’s share value slipped from $56.10 to $55.22 nearly instantly after this gesture by Ronaldo, translating to a 1.6 per cent drop. The market valuation of Coca-Cola went from $242 billion to $238 billion, thereby registering a fall of $4 billion.
Coca-Cola is among the official sponsors for Euro 2020. The firm replied with a press release on Tuesday that mentioned “everyone is entitled to their drink preferences” with completely different “tastes and needs”, the report mentioned.
In Tuesday’s sport towards Hungary, Ronaldo scored twice in Portugal’s 3-0 victory, thereby shifting past France’s Michel Platini because the document goalscorer on the European Championship finals with 11 targets.
