Euro 2020: Coca-Cola witness dip in valuation after Ronaldo snub

Cristiano Ronaldo got Euro 2020 campaign underway on a good note by scoring two goals for Portugal against Hungary on Tuesday. Before the game, Ronaldo’s press conference was dominated by a small incident where the player had removed Coca-Cola bottles in front of the camera and gestured about preferring more water than a beverage. This small incident has made a big impact on Coca-Cola’s evaluation.

According to the Spanish newspaper Marca, the company’s stock took a plunge, resulting in billions of dollars in losses. In Europe, the stock market began at 3 P.M. Coca-stock Cola’s was around 56.10 dollars at the moment. Shares plunged to a low of $ 55.22 per share, 30 minutes after Cristiano Ronaldo and Fernando Santos entered the press conference at Budapest’s Puskas Ferenc Stadium.

The act of setting the bottles aside resulted in a 1.6 percent decline in the company’s value. Coca-value Cola’s increased from $242 billion to $238 billion in economic terms. A maximum of $4 billion has been lost.

Coke has since issued a statement in response to CR7’s actions, saying “everyone is entitled to their drink preferences” and that everyone has different “tastes and needs”. A spokesperson added: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

Coca-Cola is also an official sponsor of Euro 2020, which further explains the presence of the brand during press conferences. The 36-year-old star forward is known for his immaculate fitness over the years. Ronaldo reportedly follows a strict eating regimen, and any carbonated drink is a clear no-no for him. This incident further shows the impact on the value of the biggest brands due to small gestures from top sports stars. Moreover, it also highlighted how stronger is Ronaldo’s brand image as he continues to defy age on the pitch.

On the pitch, Ronaldo’s magic remained as he was instrumental in securing three points in a game at the Ferenc Puskas Stadium. Portugal took the lead through Raphael Guerreiro before a Ronaldo penalty and also another close-range effort in injury time sealed a 3-0 victory. With the goals, Ronaldo has become the all-time top scorer at the European Championships with 11 goals, two more than French star Michel Platini. The Portuguese star also became the first player to score in five European Championships.

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