Cristiano Ronaldo’s latest press conference which saw him ditch Coca-Cola bottles in favour of water on the podium has seen the soft drinks giant suffer a $4 billion decrease in its market value.
As reported by The Guardian, Coca-Cola’s market value dropped from $242 billion to $238 billion with a share price dip of $56.10 to $55.22 straight after Ronaldo’s snub of the brand in the build-up for Portugal’s Euro 2020 opener against Hungary in Budapest.
Before removing the Coca-Cola beverages, Ronaldo shouted “Agua!” while holding up a bottle of water, encouraging people to drink this instead. With nearly 300 million Instagram followers, many will be convinced by the 36-year-old’s decision.
Meanwhile, Coca-Cola, who is an official tournament sponsor, replied on Tuesday stating that “everyone is entitled to their drink preferences” with different “tastes and needs”, as quoted by The Guardian.
A Euros spokesperson added that “players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”