Capturing Ronaldo’s bottle moving stunt took a big dig at Coca Cola Share Price as the company lost $4 Billion in market capitalization. The scene happened when the Coca Cola soft drinks were brought in front of the most paid footballer Ronaldo’s seat during a press conference ahead of Portugal’s game with Hungary on Monday. The footballer took & hid them away from the display and advised to drink water instead of those drinks.
Coca-Cola is the official sponsor of Euro 2020 and places bottles of Coke in front of everyone after Euro 2020 matches during the press conference. But in a viral moment that has sent social media users into setting up memes.
Most probably Coca Cola wouldn’t have been impressed by Ronaldo’s actions, and even less so after taking a look at the stock market on Tuesday. According to The Athletic, Coca-Cola’s shares were worth $73.02 each before the press conference, but dropped to $71.85 afterwards.That 1.6 per cent drop in value is worth the eye-watering total of $4 billion.
Coca-Cola released a statement after Ronaldo’s presser, saying “everyone is entitled to their drink preferences” and everyone has different “tastes and needs”.
Some people supported Ronaldo’s gesture as it promoted healthy living and lifestyle. Simply put, clean drinking water is always better than carbonated water which is harmful for bones. While on the other side, the retail investors and Coca-Cola investors have to face the setback as the shares fell by a huge margin.
About Coca Cola
Coca Cola is one of the best companies that manufactures carbonated soft drinks that are highly consumed in most parts of the world. Coke’s market valuation is 238.91B USD. The company financials are good and the volume of shares keeps the retail investors busy.
The coke company makes Coca-Cola, invented in 1886 by pharmacist John Stith Pemberton. In 1889, the carbonated water formula and brand were sold for $2,300 to Asa Griggs Candler, who incorporated The Coca-Cola Company in Atlanta in 1892. The company has operated a franchise distribution system since the year 1889. The company largely produces carbonated syrup concentrate, which is afterwards sold to various bottlers around the world who hold different territories. The company owns its head bottler in North America, Coca-Cola Refreshments. The company’s stock is listed on the NYSE and is part of DJIA and the S&P 500 and S&P 100 indexes. On the other side, The Coca-Cola Company is the world’s largest producer of plastic waste.
We at Venture Guide are not biased but some stunts promote a healthy lifestyle & that is what matters.