Coca-Cola Just Lost Billions off Its Market Value After Christiano Ronaldo's Snub


| LAST UPDATE 06/17/2021

By Alexa Alves
Christiano ronaldo, coca cola
Alex Livesey - UEFA/Getty Images

Christiano Ronaldo is on top of the world. Unfortunately, we can't say the same about Coca-Cola. The soda giant just took a major L after a recent press conference for Euro 2020. And it seems they've got Ronaldo to thank for that one. Here's what went down.

Christiano ronaldo, coke, water
Valerio Pennicino/Getty Images

During a press conference in Budapest, the Portugal captain took a spot in the hot seat to talk his upcoming match against Hungary. Only it was what he did - not said - that landed him in national headlines. "Agua!" the footballer shouted, as he moved away two bottles of coke from before him.

While most of us wouldn't turn away a bottle of coke, it's actually not that surprising Ronaldo rejected the fan-favorite drink. In case you didn't already know, the pro-athlete is a pretty big health fanatic. For quite some time now, he's been speaking out against Cola's high sugar content and urging people to steer clear.

Christiano ronaldo, coca cola
Alessandro Sabattini/Getty Images

Safe to say, his latest deed might have just done the trick. In fact, Coca-Cola - the official sponsor of Euro 2020, by the way - took a major drop in their market value shortly after Ronaldo's little snub. How much we talking here? About a 1.6% dip, or an estimated $4 billion, as The Guardian reported. Yes, really.

Coca cola, christiano ronaldo
Justin Sullivan/Getty Images

But it appears there's actually no bad blood here. In fact, as an official spokesperson for Euro 2020 explained in a statement, "everyone is entitled to their drink preferences." Which, fair point. Though they're not the only ones with something to say about it. "Any coke?" Scotland midfielder mocked the ordeal before his own press conference shortly after. Touche.

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"Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences," the spokesperson continued to explain. Safe to say, we know exactly what Ronaldo - and McGinn - will be reaching for before their next match.

Stay tuned.