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Cristiano Ronaldo's Coca-Cola Stunt Wipes $5.2 Billion Off Company's Stock Price

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Cristiano Ronaldo's Coca-Cola Stunt Wipes $5.2 Billion Off Company's Stock Price

Cristiano Ronaldo's stunt at a Euros press conference has caused massive damage to one of the world's most iconic and recognisable brands.

The footballer is known not only as one of the best in the history of his sport, but also for the way he stays in shape at 36 years old.

Clearly, he wasn't pleased at having Coca-Cola bottles in front of him during a pre-match presser ahead of Portugal's clash with Hungary, even though the company is a big sponsor of the tournament.

He grabbed the bottles, threw them away and placed a bottle of water in front of him. He told the journalists in the crowd to drink 'agua' instead.

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While it might have been a tiny, seemingly insignificant moment, it caused massive financial headaches for Coca-Cola.

The Athletic reports just before the press conference started, Coke's share price was AUD$56.10 each. However, by the end it was listed at $55.20, marking a 1.6 per cent dip in value.

People might not think that's a lot, but it actually translates to roughly AUD$5.2 billion wiped off the share price.

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Following the stunt, Coca-Cola issued a statement saying 'everyone is entitled to their drink preferences' and everyone has different 'tastes and needs'.

A spokesperson for the company added: "Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences."

Not only has Ronaldo dealt a tough blow to Coca-Cola, but he's also stamped himself a place in the history books during this tournament.

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The player has become the all-time top scorer in the history of the European Championship thanks to two goals during Portugal's opener against Hungary.

The 36-year-old cut a 'frustrated figure' in the first half as Diogo Jota elected against passing to him when he was free - coupled with a shocking miss from six yards out just before half-time.

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But in the latter stages of the second half, he bagged the double to take Portugal to 3-0 against their opponents.

His first was an emphatic penalty after substitute Rafa Silva was fouled inside the box, while his second finished off some gorgeous combination play with Bruno Fernandes.

The two goals took his Euros tally to 11 and moved to 106 goals in 175 games for the national team.

Ronaldo has played in five consecutive European Championship and scored in all five.

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His first was in Euro 2004 and 17 years on, the five-time Ballon d'Or winner is still running riot in the tournament.

Featured Image Credit: AP/UEFA/Google

Topics: Football News, Football, Euro 2020, Portugal, Australia, Cristiano Ronaldo, Coca-Cola

Max Sherry
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