Soccer superstar Cristiano Ronaldo snubbed Coca-Cola. Then their market value sank $4 billion.
During a Euro 2020 press conference on Monday, soccer superstar Cristiano Ronaldo irritably moved two bottles of Coca-Cola, one of the official sponsors of the event, and then picked up a bottle of water.
"Água!" he exclaimed in Portuguese, setting the bottle down in the center of his desk.
"Water!": Portuguese soccer superstar Cristiano Ronaldo removed two bottles of Coca-Cola, which sponsors the Euro tournament, away from him as he entered a news conference on Monday before holding up a bottle of water to the media. pic.twitter.com/mfh8GDhseF
— CBS News (@CBSNews) June 15, 2021
By the end of the press conference for the European Championship, Coca-Cola's shares had dropped 1.6%, to $55.22 from $56.17. That lopped $4 billion off the beverage behemoth's market value, with the shares sinking another 0.6% on Tuesday to $55.08.
Coca-Cola's decline was in sharp contrast to the rest of the S&P 500, which rose 0.4% on Monday. Overall, the stock index has risen 13% this year, while Coca-Cola shares are up 0.5%.
A Euro 2020 spokesperson said that "players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences," and that everyone "is entitled to their drink preferences."
Manchester United and France player Paul Pogba appeared to follow Ronaldo's lead a day later during his press conference. Pogba, a devout Muslim, moved a bottle of Heineken (another Euro 2020 sponsor) from his desk. However, he made no comment as he did so.
Ronaldo is famous for his dedicated approach to health and fitness. He is known to eat six meals and take five naps a day, which he documents to his almost 300 million Instagram followers.
Portugal beat Hungary 3-0, with Ronaldo scoring two of the three goals. He now holds the record for goals scored at the European Championship finals, with 11.
Coca-Cola did not immediately respond to a request for comment from CBS News.