Cristiano Ronaldo Coca-Cola Snub Cost Company $4 Billion in 20 Seconds
June 17, 2021
The international soccer superstar slid the press conference props out of the way in favor of water
The UEFA European Football Championship is going on, and Coke is a major sponsor. Ronaldo sat down for a press conference and moved the two prop bottles of Coca-Cola out of camera view then held of a clear plastic bottle and said 'agua' (water). After that, shares of Coca-Cola just dropped 1.6%, from $56.17 to $55.22, reducing Coke's market value from $242 billion to $238 billion . . . a $4 billion loss. Publicly Coke said: "[Everyone] is entitled to their drink preferences.". Pretty sure some other things may have been expressed privately...