Coke loses $4b as Ronaldo replaces products during press conference

Any gesture of Cristiano Ronaldo has a huge impact on a product’s brand value and apparently, his coke and water gesture in a press conference perhaps did not fail in that regard.

This Monday, at the press conference prior to Portugal’s game against Hungary, he removed two bottles of Coca-Cola from his vicinity. The Portuguese star sat down, saw the two bottles of carbonated drinks and moved them away before taking a water bottle.

His gesture was accompanied by a suggestion to ‘drink water’.

The stock market opened at 3pm in Europe.

At that time, the Coca-Cola share was close to 56.10 dollars. 30 minutes later, when Cristiano Ronaldo and Fernando Santos stepped into the press room at the Puskas Ferenc Stadium in Budapest, stocks plummeted to a low of $ 55.22 per share.

The gesture of putting the bottles aside caused a brutal 1.6% drop for the company on the stock market. And in economic terms, Coca-Cola went from being worth $242 billion to $238 billion .

Total losses of $4 billion.

Credit: TheDailyStar

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