Ronaldo's gesture costs Coca Cola $4 billion loss

Wednesday, 16 June 2021 12:20

By ARN News Centre

Football star Cristiano Ronaldo's removal of two Coca-Cola bottles from his table ahead of a Euro 2020 press conference in Budapest has knocked off $4 billion from the company's market value.

A day after the 36-year-old's gesture went viral on social media, the company's share price dropped by 1.6 per cent, reducing the market value of the brand from $242 billion to $238 billion.

Meanwhile, Coca Cola responded, in a statement, saying, "everyone is entitled to their drink preferences" and that everyone has different "tastes and needs".

Ronaldo went on to score two goals in the game against Hungary, with Portugal winning 3-0.

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