CoCa-Cola loses $4 billion after Cristiano Ronaldo replaces soft drink at press conference

Cristiano Ronaldo's removal of Coca-Cola bottles from a Euro 2020 news conference has had a negative impact on the brand.  The 36-year-old moved the cola bottles aside and replaced it with water as he sat down to speak to the media ahead of their Group F opener against Hungary. Cristiano Ronaldo was discontent with Euro 2020 coordinators for keeping two Coca-Cola bottles in the press conference room. One of the biggest stars in the history of football, Ronaldo follows strict diet and fitness routine. 

Do NOT put Coca Cola in front of Cristiano Ronaldo 😠

This is absolutely brilliant 🤣 pic.twitter.com/bw9FYlTOI4

— Goal (@goal) June 15, 2021

According to Australian Associated Press, Coca-Cola’s share price slipped from $56.10 to $55.22 almost immediately after this gesture by Ronaldo, translating to a 1.6 per cent drop. The market valuation of Coca-Cola went from $242 billion to $238 billion, thereby registering a fall of $4 billion. Coca-Cola is one of the official sponsors for Euro 2020. The company replied with a statement on Tuesday that said “everyone is entitled to their drink preferences” with different “tastes and needs”, the report said. In Tuesday’s game against Hungary, Ronaldo scored twice in Portugal’s 3-0 victory, thereby moving beyond France’s Michel Platini as the record goalscorer at the European Championship finals with 11 goals.