“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;

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