Because of Ronaldo, Coca-Cola Loses $ 4 Billion in 30 Minutes! - Kakiforex.com - Financial Market Media No. 1 in the World Because of Ronaldo, Coca-Cola Loses $ 4 Billion in 30 Minutes! Because of Ronaldo, Coca-Cola Loses $ 4 Billion in 30 Minutes!
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June 16, 2021

Because of Ronaldo, Coca-Cola Loses $ 4 Billion in 30 Minutes!

 Leading beverage brand Coca-Cola reportedly depreciated in its market value after world soccer star and Portugal player Cristiano Ronaldo was seen removing two bottles of the company's water from the table during the team's press conference in conjunction with the ongoing Euro 2020 tournament.


Interestingly, Ronaldo's action was 'successful' in causing Coca-Cola to lose US $ 4 billion.


According to a report by Spanish news agency Marca, Coca-Cola's shares fell 1.6%, bringing the company's market capitalization to US $ 238 billion lower than the previous US $ 242 billion.


Coca-Cola shares were at US $ 56.10 when the stock market opened at 3 pm in Europe yesterday.



However, 30 minutes later after the press conference, Coca-Cola shares fell to US $ 55.22 per share.


Coca-Cola and the European Football Association (UEFA) have not yet issued any statement on the incident.


According to a Mail Online report, both organizations are likely to be unhappy with Ronaldo's actions as he has shown 'disrespect' to Coca-Cola, which has been a sponsor of the Euro tournament since 1988.


Previously, Ronaldo had insisted that he did not like sugary drinks and was very disciplined about health care, even the Juventus club player often scolded his son, Cristiano Ronaldo Jr. who likes to eat unhealthy foods such as fries and carbonated drinks.