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'Drink water': When Cristiano Ronaldo's Coca-Cola diss resulted in USD 4,000,000,000 loss for company
Back when Cristiano Ronaldo removed Coca-Cola bottles in a press conference resulted in crash of Coca-Cola’s shares
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Back in 2021 when Cristiano Ronaldo replaced Coca-Cola bottles with Water, led to a bad fortune hit
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After the move, Coca-Cola lost approximately $4 Billion in market value
The biggest controversy of 2021 was definitely Cristiano Ronaldo vs Coca-Cola. Even today, there are countless memes and fan pages that keep on curating that incident throughout the internet. Going back in time to 2021, let’s refresh our memory and have a deeper look at the incident once again. What happened? Why did it happen? Everything is right here. Let’s explore the details now!
Back in 2021, when Cristiano Ronaldo’s one move accidentally crashed Coca-Cola’s shares by $4 Billion
It was an incident from around June 2021 when Cristiano Ronaldo sat down at a news conference in Budapest for Euro 2020. The press conference was regarding Portugal's match against Hungary. But as soon as Cristiano Ronaldo sat down in front of the media, he noticed two Coca-Cola bottles in front of him. He took the bottles, placed them out of the camera frame and then helped up a water bottle. In Portuguese, he said, “Water!” Not a little did Ronaldo know his one little action could result in a huge financial loss to Coca-Cola.
As reported by The Guardian, Cristiano Ronaldo’s actions led Coca-Cola’s share price to go down by a whopping 1.6% to just $55.22 in a short period of time. Further, the market value of the beverage company went from $242 Billion to #238 Billion, a straight drop of 4 Billion. Talking about Cristiano Ronaldo’s move at the press conference, a Euro 2020 spokesperson, as per the TRIBUNA, made a statement. He said, “"Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences."
The Guardians who reported about the 4 Billion loss of Coca-Cola due to Cristiano Ronaldo soon removed their article. It was believed that Coca-Cola’s price drop and Cristiano Ronaldo’s move at the EURO 2020 press conference were merely a coincidence. There were other factors that were involved and a price drop was already happening before the conference. Whatever remains the case, the world got one of the most interesting and controversial news, in 2021.
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