Ronaldo’s Coke snub costs Coca-Cola $4 billion
Football superstar Cristiano Ronaldo’s snub of Coca-Cola drinks has led to a N4 billion loss in shares.
At a press conference during the ongoing Euro 2020, Ronaldo cleared off Coke bottles from a table.
The event held before Portugal’s group stage match against Hungary on Monday. Portugal won the match 3-0, with Ronaldo scoring a brace.
In a viral video, Ronaldo was seen clearing Coca-Cola drinks off his table while holding a bottle of water, saying, “Agua.”
Reacting to Ronaldo’s gesture, Coca-Cola issued a statement on Monday saying, “Everyone is entitled to their drink preferences.”
However, the UK Guardian reported Wednesday Coca-Cola suffered a huge loss following the Portuguese star gesture.
“Coca-Cola’s share price dropped from $56.10 to $55.22 almost immediately after Ronaldo’s gesture, a 1.6% dip. The market value of Coca-Cola went from $242bn to $238bn – a drop of $4bn,” the UK Guardian reported.
With over 90 million followers on Twitter and close to 300 million fans on Instagram, Ronaldo stands as the most influential footballer on social media across the globe.
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