Business News

Coca-Cola reacts after Cristiano Ronaldo stunt decreases firm’s value by $4 billion

Spread the love

Cristiano Ronaldo is a worldwide celebrity, and whatever he does, on and off the field, has consequences. The conduct was sure to have ramifications as he encouraged people to drink water and avoid Coca-Cola immediately at the start of his team’s news conference ahead of the Hungary encounter in Euro 2020.

It is not a surprise that Ronaldo takes the finest possible care of his body. Even at the age of 36, the Portuguese superstar can battle with players ten years his junior. As Ronaldo arrived for Portugal’s news conference with manager Fernando Santos, he noticed two Coca-Cola bottles in front of him and chose to remove them from the camera position entirely.

Despite the fact that Coca-Cola is one of the sponsors of Euro 2020, Ronaldo sent a strong message, urging everyone to drink water instead. Such a recommendation by the worldwide football superstar reduced Coca-brand Cola’s worth by a staggering 4 billion US dollars.

Coca-share Cola’s price fell from $56.10 to $55.22, a 1.6 percent decline, immediately following Ronaldo’s gesture. As a result, the brand’s market worth fell by $4 billion, from $242 billion to $238 billion.

Coca-Cola also issued a statement following Ronaldo’s performance, stating that everyone is entitled to their drink choices because everyone has different tastes and requirements.

Ronaldo is widely regarded as the greatest player of all time, and many consider him to be the GOAT. He has a large social media following, with over 300 million Instagram followers. The video of Ronaldo snubbing Coca-Cola quickly went popular on social media, with fans and publishers all over the world spreading it widely. It was understandable that it had a negative influence on the beverage company’s stock values.

Ronaldo broke numerous records on June 15th when he scored a brace for Portugal in a 3-0 win over Hungary. With 11 goals at the European Championships, he is currently the tournament’s all-time leading scorer.

NEWS SOURCE

ALSO READ : Bajaj Finance stock rises by more than 7% reaching a new high

Recent Posts

As Ola’s Bhavish Aggarwal Faces Criticism, Zomato’s Deepinder Goyal Receives Praise for PR Savvy

The contrasting public images of two prominent Indian startup founders, Zomato's Deepinder Goyal and Ola's…

3 months ago

Singham Again Trailer Launch: What to Expect

The excitement is palpable as Ajay Devgn and director Rohit Shetty gear up for the…

3 months ago

Hardik Pandya Impresses with No-Look Ramp Shot and All-Round Performance in India’s First T20I Win Against Bangladesh

Hardik Pandya showcased his prowess as an allrounder in T20 cricket, contributing significantly with a…

3 months ago

New Haryanvi Song “Bahu Chaudhariya Ki” Launched by Aman Jaji and Pranjal Dahiya

HR Beat Production has unveiled its latest Haryanvi hit, "Bahu Chaudhariya Ki," featuring artists Aman…

3 months ago

Apple’s iPhone 16 Pro Max: Improved Battery Life and Camera Features, but Missing Key AI Updates

Apple's highly anticipated iPhone 16 series is set to launch on Friday, with the flagship…

3 months ago

Music Director Vipin Reshammiya, Father of Himesh Reshammiya, Passes Away at 87

Vipin Reshammiya, father of Himesh Reshammiya, has passed away at the age of 87. He…

3 months ago

This website uses cookies.