How Cristiano Ronaldo's Euro snub made Coca-Cola lose billions of dollars

Soon after star footballer Cristiano Ronaldo moved the two glass bottles of Coca-Cola during a press conference and held up a bottle of water, the Euro 2020 sponsor lost a whopping $4 billion in its market value on Tuesday.

The Portuguese star footballer, who is a known fitness enthusiast, sat down for media interaction when he moved Coca-Cola bottles aside, taking the brand's name before picking up a bottle of water and saying "Agua" (Spanish word for water).

Ronaldo's this move was an indication to urge his fans to drink water rather than carbonated drinks. Coke is a sponsor of the ongoing Euro 2020 where Ronaldo is representing Portugal.

The short video clip soon found its way on the internet, which then was spread widely across social media.


This led to Cola's shares taking a dive, leaving the company with billions of dollars in losses, according to IANS report quoting Spanish newspaper Marca. The dip in market value happened within half an hour of the incident. The famed footballer has always been vocal in his support for healthy diet.

On Tuesday, the 36-year-old footballer with over 298 million followers on Instagram scored two goals for Portugal's 3-0 win against Hungary.