Cristiano Ronaldo, the world soccer star, refused two bottles of Coca-Cola from his table during a press conference on Monday and has cost the U.S. company $4 billion.
Cristiano Ronaldo refuses a Coke and the company loses $4 billion in stock market value
Portuguese star Cristiano Ronaldos‘ gesture of removing two bottles of Coca-Cola from his table during a press conference cost the US multinational company 4 billion dollars.
Shares of the Coca-Cola company fell from $56.10 to $56.22 (1.6%) almost immediately after the striker’s decision to set aside the carbonated beverages and replace them with a bottle of water.
As a result, the company’s value fell and went from $242 billion to $238 billion.
“There are things that take years to achieve, even decades. For example, a good brand image. Something like that happened this Monday to Coca-Cola, one of the main sponsors of the European Football Championship being played these weeks.
Barely 20 seconds elapsed between Cristiano Ronaldo’s entrance to the press room and the footballer’s contrary gesture, which damaged the company’s reputation and could be responsible for a loss of 3,967 million dollars in market capitalization”, according to the Spanish newspaper El País.
This happened last Monday afternoon in Budapest, almost at the opening of the Wall Street session, where the company is listed.
It should be noted that Coca-Cola is the official sponsor brand of UEFA and that Cristiano does not sponsor any corporate rival of the Coca-Cola company.
This is not the first time that Ronaldo has made his opinion in terms of products such as Coca-Cola for its impact on health.
Speaking at last year’s Globe Soccer Awards, the soccer player confessed that he was irritated that his son likes these drinks.
“Sometimes I’m hard on him because he drinks Coca-Cola. We fight when he eats chips. He knows I don’t like it,” he commented at the time.
