Coca-Cola share price remains up 5% since the beginning of the year
Cristiano Ronaldo removed two bottles of Coca-Cola during a press conference on Tuesday, causing the drinks company’s share price to fall in value by $4bn.
The Portugal captain who scored two goals to help his country to victory against Hungary yesterday made his feelings about the soft drink clear.
The talisman moved the two bottles out of sight, appearing to say “agua”, the Portuguese word for water, in an effort to encourage people to make better health decisions.
Following Ronaldo’s gesture, the Coca-Cola share price fell by over 1.5%, a drop of $4bn, bringing its market cap to $238bn.
Coca-Cola, one of the official sponsors of Euro 2020, put out a brief statement in response saying “everyone is entitled to their drink preferences” with different “tastes and needs”.
The drinks company has seen its share price perform pretty well in 2021, up 5.02% since the beginning of the year. Over the past 12 months it is up 18.41%.
The resulting share price move has similarities with Tesla CEO Elon Musk’s ability to influence crypto markets, much to the chagrin of investors.