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Coca-Cola Market Value Suffered a $4 Billion Drop; Company Responds

At a pre-match press conference right ahead of the EURO 2020 clash between Hungary and Portugal, a small gesture by star footballer Cristiano Ronaldo has left a big dent in Coca-Cola’s market value.

Source: The Indian Express

In the press conference, Cristiano pushed a couple of Coke bottles aside that kept in front of him. He moved the bottles out of the frame and then picked a water bottle in front of the press gathered for the conference.

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He also said “agua” — which means water in Portuguese — after holding up the bottle of water as a sign of endorsement. His gesture soon went viral on various social media platforms and shared widely across the globe.”

https://twitter.com/FutbolBible/status/1404522910107291650?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1404522910107291650%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.indiatoday.in%2Fbusiness%2Fstory%2Fcristiano-ronaldo-s-act-wipes-off-4-billion-from-coca-cola-s-market-value-company-responds-1815577-2021-06-16

Soon after this, Coca-Cola — one of the official sponsors of Euro 2020, saw its market value dip by a banging $4 billion. However, Coca-Cola’s stock price dropped by 1.6 percent, down from $56.10 to $55.22 after Cristiano Ronaldo’s gesture. 

Coco-Cola Issued a statement on the matter saying, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.

The company additionally said “everyone entitled to their drink preferences” and that everyone has different “tastes and needs”.


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Singh Vivek

With over 5 years of writing obituaries for a different organisation, I have a uniquely wry voice that shines through in my newest collection of articles.

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