Coca-Cola’s market value drops $4 billion after Ronaldo’s snub

“Water!”: Portuguese soccer superstar Cristiano Ronaldo removed two bottles of Coca-Cola, which sponsors the Euro tournament, away from him as he entered a news conference on Monday before holding up a bottle of water to the media. That lopped $4 billion off the beverage behemoth’s market value, with the shares sinking another 0.6% on Tuesday to $55.08. However, he made no comment as he did so. Ronaldo is famous for his dedicated approach to health and fitness. pic.twitter.com/mfh8GDhseF— CBS News (@CBSNews) June 15, 2021

Coca-Cola’s decline was in sharp contrast to the rest of the S&P 500, which rose 0.4% on Monday. First published on June 16, 2021 / 1:08 PM Soccer superstar Cristiano Ronaldo snubbed Coca-Cola. He now holds the record for goals scored at the European Championship finals, with 11. Coca-Cola did not immediately respond to a request for comment from CBS News. He is known to eat six meals and take five naps a day, which he documents to his almost 300 million Instagram followers. 
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Coca-Cola’s market value drops $4 billion after Ronaldo’s snub

Portugal beat Hungary 3-0, with Ronaldo scoring two of the three goals. By Alexandra Larkin

June 16, 2021 / 1:08 PM
/ CBS News

During a Euro 2020 press conference on Monday, soccer superstar Cristiano Ronaldo irritably moved two bottles of Coca-Cola, one of the official sponsors of the event, and then picked up a bottle of water. 

“Água!” he exclaimed in Portuguese, setting the bottle down in the center of his desk. By the end of the press conference for the European Championship, Coca-Cola’s shares had dropped 1.6%, to $55.22 from $56.17. Overall, the stock index has risen 13% this year, while Coca-Cola shares are up 0.5%. 

A Euro 2020 spokesperson said that “players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences,” and that everyone “is entitled to their drink preferences.”Manchester United and France player Paul Pogba appeared to follow Ronaldo’s lead a day later during his press conference. Then their market value sank $4 billion. Pogba, a devout Muslim, moved a bottle of Heineken (another Euro 2020 sponsor) from his desk.