Portugal and Juventus star Cristiano Ronaldo knocked $4 billion off worldwide beverage giant Coca-Cola company’s industry capitalization earlier this week by removing two bottles placed in front of him. The 5-time Ballon d’Or winner, also a effectively-identified fitness enthusiast, removed the two bottles of Coca-Cola and as an alternative placed a bottle of water in front in the course of a pre-match press conference. Soon soon after Cristiano Ronaldo’s actions, the New York Stock Exchange-listed Coca Cola business saw $4 billion shaved off of its industry capitalization, The Guardian reported. Coca-Cola is the official sponsor of Euro 2020.
Immediately soon after removing the two Coca-Cola bottles in the course of the press conference, the Portuguese Captain was seen holding up a water bottle ahead of saying “Agua” in Portuguese in what appeared to be an encouragement for men and women to opt for water more than aerated drinks. Ronaldo, who is the highest ever aim-scorer at the European Championship, is identified for his dislike for aerated drinks.
Earlier in December last year, the 36-year old footballer was heard saying that he does not like it when his son drinks “Coca-Cola and Fanta and eats crisps”. Ronaldo himself maintains a fitness level that has kept him in his prime at an age when most footballers start off displaying indicators of burnout soon after a profession spanning more than a decade.
Coca-Cola’s share price tag fell 1.67% on Monday’s opening bell on Wall Street. The share price tag dropped from $56.10 to $55.22. The industry worth of Coca-Cola went from $242 billion to $238 billion — erasing $4 billion in industry cap, according to the report. Following the incident, a spokesperson for Euro 2020, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.” The spokesperson added that absolutely everyone “is entitled to their drink preferences”.
However, Ronaldo’s snub is not probably to hurt the business for extended. Adman Prahlad Kakkar, the founder of Genesis Film Productions, was quoted by saying that the move will influence the shares and industry worth of Coke, but only momentarily. “And these share prices don’t reflect the actual turnover,” he added.
Ronaldo, who holds the record for the most objectives scored by a experienced football player, is not alone when it comes to snubbing worldwide brands. Tesla boss Elon Musk has been forcing sharp industry movements by his cryptic tweets. Following Cristiano Ronaldo, France and Manchester United midfielder Paul Labile Pogba was seen also removing a non-alcoholic Heineken beer from his table. Heineken, a different official sponsor of Euro 2020, saw its shares on the Amsterdam Stock Exchange fall marginally on Thursday.