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Home >Companies >News >Ronaldo's 'drink water' message wipes out $4 billion from Coca Cola's market value

Coca-Cola's market value dropped a whopping $4 billion, from $242 billion to $238 billion, hours after footballer Cristiano Ronaldo ditched two Coca-Cola bottles for a bottle of water in a pre-match conference. The stock price of the beverage brand dropped from $56.10 to $55.22, declining 1.6%.

On Monday, the Portugal captain removed two bottles of Coca-Cola kept in front of him at Euro 2020 press conference, encouraging people to drink water instead. The 36-year-old moved the cola bottles aside as he sat down to speak to the media before Tuesday's Group F opener against Hungary.

He followed it by holding a bottle of water before shouting in Portuguese: 'Agua!'. "Agua" (water) in Portuguese in a gesture appeared to encourage people to drink water instead of aerated drinks. The video of the whole episode was shared widely on social media.

Coca-Cola is one of the official sponsors of Euro 2020 because of which the bottles were placed for marketing on the table.

In another news, France midfielder Paul Pogba removed a bottle of Heineken beer that had been placed in front of him at a Euro 2020 news conference on Tuesday, a day after Portugal captain Cristiano Ronaldo moved aside Coca-Cola bottles in a similar set-up, reported Reuters.

Pogba removed the bottle when he sat down to speak to the media after he was named 'Man of the Match' in France's 1-0 Group F win over Germany.

(With inputs from agencies)

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