Coca-Cola Shares Drop $4 Billion After Cristiano Ronaldo’s Gesture To Drink Water

At a Euro 2020 news conference, Cristiano Ronaldo made a gesture encouraging people to drink water instead of Coke, which may have lost the Coca-Cola Shares Drop $4 Billion in market value.

Before Portugal’s match against Hungary on Monday, Ronaldo moved two Coke bottles out of view and picked up a bottle of water, causing Coca-Cola shares to dip from $56.17 to $55.22.

The company’s market worth decreased by $4 billion from $242 billion to $238 billion.

“Agua!” cried the soccer great. In Portuguese, agua refers to water.

Coca-Cola is a sponsor of the UEFA EURO 2020 event, and according to a statement obtained by the Guardian, “everyone is entitled to their drink preferences.”

“Players are provided water, Coca-Cola, and Coca-Cola Zero Sugar, on arriving at our press conference,” according to a Euro 2020 spokeswoman.

Following a match against Germany on Tuesday, French soccer player Paul Pogba made a similar move with a Heineken beer bottle, indicating that Ronaldo may have begun a trend.

Ronaldo is recognized for his amazing physique, and he told goal.com that he avoids alcohol and fizzy beverages to maintain his body in top form.

When the stock market closed on Tuesday, Coca-Cola shares were up to $55.41.