“Drink Water”- Cristiano Ronaldo Coca-Cola Snub Causes Company To Lose $4 Billion In Market Value
Soccer star Cristiano Ronaldo’s Coca-Cola snub at Euro 2020 reportedly caused the soft drink company to lose $4 billion in market value.
In the viral video which is currently trending online, Ronaldo who sat beside Portugal manager Fernando Santos ahead of his team’s match against Hungary irritably set aside two bottles of the soda drink placed before him.
Cristiano Ronaldo went on to pick up a bottle of water and suggested people should drink water by saying “Água!” – which is Portuguese for water.
According to the Business Insider statistics, there was a sharp drop in Coca-Cola’s stock price after Cristiano Ronaldo snubbed the beverage. Coca-Cola’s shares which were initially trading around $56.17 when the market opened on Monday, reportedly fell 1.6% to $55.22 by the end of the press conference. That resulted in a sharp drop in market value from $242 billion to $238 billion. The soft-drink manufacturer’s shares closed at $55.41 per share on Tuesday.
Coca-Cola, which is one of the official sponsors of the UEFA EURO 2020 tournament has since issued a statement about the incident, saying;
“Everyone is entitled to their drink preferences” and have differing “tastes and needs.”
Prior to the viral incident, Ronaldo has always previously spoken out about his disapproval of Coca-Cola and other unhealthy beverages and food.
Ronaldo is a fitness fanatic, he follows a fitness routine that includes eating six meals and taking five naps on a typical day.
Here are some of the reactions from Twitter;
I’m big fan of Cristiano Ronaldo , but what he did during that interview was so uncalled for, He must apologize. Obviously He’s one of the most famous Sportsmen, people admire him so much to an extent they imitate his actions.
— Kilogram KG (@KilogramKG09) June 16, 2021
Sometimes it’s about personal endorsements, they were playing him by putting it there.
— PimpNamedSlickback (@nkejah_buoy) June 16, 2021
Talk about real influencers, a man shifts 2 bottles of coke one the other side the poooo 4 billion ko Coca Cola.. Yhoo,
— Vladmirr (@vladmirr_bobo) June 16, 2021
Let’s just check the fact go to his house to find out if he doesn’t drink that brand,secondly he forget that the Euro he’s playing in to showcase his talent is totally sponsored by the same brand he’s kicking out
— SERKAL D’OR (@Serkaleader) June 16, 2021
Ronaldo went from Spain to Italy then DSTV dropped Bundesliga for Serie A dude is undeniably a boss and I’m a Messi fan pic.twitter.com/5r10wQbMbV
— Cooly Chux (@nkulikankuli) June 16, 2021
They are not paying him, so coca cola was pushing a marketing strategy and he knows that. CR7 is a brand.
— MageshGalore (@KaizerMagesh) June 16, 2021
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