The snub seen around the world: billions wiped off Coca-Cola’s market value after Cristiano Ronaldo rejection

Cristiano Ronaldo made headlines after he removed two Coca-Cola bottles during a press conference at the Euro 2020, coinciding with a $4 billion drop in the beverage giant’s market value.

Known for his commitment and dedication to health, Mr Ronaldo further underscored this when arriving at the press conference, removing two bottles of Coca-Cola, holding up a bottle of water and declaring in Portuguese: “Agua!”, encouraging the audience to choose water instead of carbonated soft drinks.

Following the move, Coca-Cola’s share price dropped from $56.10 to $55.22, almost immediately after Mr Ronaldo’s move, translating into a 1.6 per cent dip. This resulted in the market value of Coca-Cola going from $242 billion to $238 billion, a drop of an eye-watering $4 billion.

In a reply, Coca-Cola, which is an official sponsor of the Euro 2020, said:

“Everyone is entitled to their drink preferences” with “different tastes and needs.

“Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

Mr Ronaldo, who shows no signs of slowing, scored twice in Portugal’s 3-0 win over Hungary.