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‘Drink water!’: Ronaldo snub wipes out $4B off Coca-Cola’s value

by DAILY SABAH WITH AGENCIES

ISTANBUL Jun 16, 2021 - 3:30 pm GMT+3
Portugal's forward Cristiano Ronaldo during a press conference at the Puskas Arena in Budapest, on the eve of the UEFA Euro 2020 football match between Hungary and Portugal, June 14, 2021. (UEFA via AFP)
Portugal's forward Cristiano Ronaldo during a press conference at the Puskas Arena in Budapest, on the eve of the UEFA Euro 2020 football match between Hungary and Portugal, June 14, 2021. (UEFA via AFP)
by DAILY SABAH WITH AGENCIES Jun 16, 2021 3:30 pm

Coca-Cola’s market value dropped a whopping $4 billion in a matter of hours after footballer Cristiano Ronaldo Monday put aside two bottles of carbonated drinks during a Euro 2020 pre-match conference and encouraged people to drink water instead.

The share price of the beverage brand dropped from $56.10 to $55.22, declining 1.6%, after Ronaldo's gesture.

The market value of Coca-Cola fell from $242 billion to $238 billion.

The 36-year-old Portugal captain moved the cola bottles in front of him aside as he sat down to speak to media before Tuesday’s Euro 2020 Group F opener against Hungary.

He followed it by holding a bottle of water before shouting in Portuguese: “Agua!” The video went viral on social media.

Coca-Cola’s market value drops whopping $4 billion after Portugal star Cristiano Ronaldo removed 2 bottles of carbonated drinks during Euro 2020 press conference, encouraging people to drink water insteadpic.twitter.com/hN0EWiZ2Hfhttps://t.co/cDeHrTXI4U

— DAILY SABAH (@DailySabah) June 16, 2021

One of the official sponsors of Euro 2020, Coca-Cola released a statement Saturday that said “everyone is entitled to their drink preferences” with different “tastes and needs.”

A Euros spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

Ronaldo is known for not being a fan of carbonated soft drinks. It was not the first time he spoke out against carbonated drinks as he previously pointed out that he keeps his son from consuming them.

"Occasionally my son drinks Coca-Cola or Fanta and eats crisps and he knows I don't like that," Ronaldo had said.

In a similar set-up, France midfielder Paul Pogba removed a bottle of Heineken beer that had been placed in front of him at a news conference Tuesday.

France midfielder Paul Pogba, a practicing Muslim, removes bottle of Heineken beer placed in front of him at Euro 2020 press conferencepic.twitter.com/Nnv0HRT53Z https://t.co/MJO5ACQxvS

— DAILY SABAH (@DailySabah) June 16, 2021

Pogba, a practicing Muslim, removed the bottle when he sat down to speak to the media after he was named “Man of the Match” in France’s 1-0 Group F win over Germany.

Heineken is also one of the official sponsors of Euro 2020.

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  • Last Update: Jun 16, 2021 5:26 pm
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