Thursday, September 23, 2021

Coca-Cola Shares Just Plummeted Thanks to Soccer Star Cristiano Ronaldo

Earlier this week, while participating in a Euro 2020 press conference, soccer superstar Cristiano Ronaldo moved two Coca-Cola bottles out of the way and replaced them with water. “Agua!” the Portuguese footballer exclaimed—an innocent enough endorsement to hydrate, right? Wrong.

The Guardian reports that the snub has caused Coca-Cola stocks to drop from $56.10 to $55.22, and while that might not seem like a crazy jump, that translates into a nearly $4 billion dip in market value. The company now stands at $238 billion—a stark difference from its $242 billion just last week.

“Everyone is entitled to their drink preferences,” a spokesperson for the Euro 2020 tournament said, according to The Guardian. “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conference.”

ICYMI, Coca-Cola is actually a major sponsor of the UEFA EURO 2020 tournament, making the whole debacle just slightly more awkward.

Ronaldo’s stance, however, should hardly come as a surprise given the athlete’s famously strict diet and health routine. According to the outlet, he has been known to eat six meals and take five naps a day—both of which he has documented on social media. It’s working, though? Portugal knocked out Hungary 3-0 last week, with Ronaldo himself scoring two of the three goals.

Coca-Cola has yet to comment on the controversy.

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