Last Updated on: 20th July 2023, 04:25 am
Cristiano Ronaldo’s move to get people to drink water instead of Coca-Cola at the Euro 2020 press conference may have cost the soda organization $4 billion in market estimates.
Coca-Cola stock fell from $56.17 to $55.22 after Ronaldo pushed two cans of Coca-Cola out of sight and scooped a container of water ahead of Portugal’s game against Hungary on Monday.
On Thursday, Coca-Cola’s share price traded even lower, closing at $54.95, bringing the full market estimate from $242 billion to about $5.1 billion to $236.9 billion.
Also Read: Cristiano Ronaldo Crossed 300 Million Followers on Instagram
Coca-Cola is one of the sponsors of the UEFA EURO 2020 competition, and a statement from the organization investigated by the Guardian states: “Everyone is qualified for their drinking habits.”
Ronaldo may have sparked a pattern since French soccer player Paul Pogba mirrored a similar move with a bottle of Heineken beer after a game against Germany on Tuesday.
Notable for his impressive physical condition, Ronaldo advised Goal.com to stay away from alcohol and carbonated drinks to keep his body fit like a violin.
