Cristiano Ronaldo may have cost Coca-Cola $4 billion in market value
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Cristiano Ronaldo’s gesture for people to drink water instead of Coke at a Euro 2020 press conference may have cost the soda company $4 billion in market value.
Coca-Cola shares dropped from $56.17 to $55.22 after Ronaldo moved two Coke bottles out of view and picked up a bottle of water before Portugal’s match against Hungary on Monday.
Market value for the company dropped from $242 billion to $238 billion – a $4 billion plunge.
“Agua!” the soccer superstar exclaimed. Agua means water in Portuguese.
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