Cristiano Ronaldo’s suggestion to drink water instead of Coke at a Euro 2020 press conference cost $4 billion in market value. Coca-Cola shares dropped from $56.17 to $55.22 after Ronaldo moved two Coke bottles in the press conference 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 “Agua!” which means water in Portuguese was exclaimed by Ronaldo. Coca-Cola is one of the sponsors for the UEFA EURO 2020 tournament and a statement from the company reviewed by the Guardian said, “everyone is entitled to their drink preferences.”
A Euro 2020 spokesperson reportedly said, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conference.” Before Ronaldo, French soccer player Paul Pogba mirrored the same gesture with a Heineken beer bottle following a match with Germany on Tuesday.
Ronaldo told goal.com that to keep his body in good shape he avoids alcohol and carbonated drinks. Coca-Cola shares were up to $55.41 when the stock market closed on Tuesday. Ronaldo, 36, follows a strict diet and avoids sugary foods. While still at Real Madrid, the club doctor said he had the body of a player ten years younger and could continue playing at the top level into his 40s, according to The Sun report.