CR7 Effect: Coca-Cola loses $4 billion as Ronaldo removes its bottles and endorses water

Written by in Global Stars, Sports

1 min

Shortly after shattering another world record when he became the only player to score in nine consecutive tournaments, Cristiano Ronaldo is making headlines again for another reason. 

Per the tradition of every game, there was a press conference headed by Ronaldo as he answered questions from the press regarding Portugal’s game against Hungary in the ongoing Euro 2020.

When he arrived, he shoved off two Coca-Cola bottles placed in front of him on the table and instead held a bottle of water up high in a way to say water is the best nutrient for the body.

His action has reportedly led to the drastic loss of revenue for the soft drink giant. The 36-year-old winger amidst his action, shouted in Portuguese: “Agua!”, appearing to encourage people to choose that instead.

The Juventus star is a renowned fitness freak who maintains a strict healthy diet. The episode has caused the company $4 billion in stock value.

Coca-Cola’s share price dropped from $56.10 to $55.22 almost immediately after the incident, a 1.6% dip. Their market value went from $242bn to $238bn – a drop of $4bn.

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