Global beverage brand Coca-Cola suffered a $4 billion drop in market value

At the press conference in Budapest before Portugal vs Hungary match at Euro 2020, Cristiano Ronaldo made it well known what he feels about carbonated drinks. He pushed aside a couple of Coke bottles that were kept in front of him. He followed it by holding a bottle of water before shouting in Portuguese: ‘Agua!’. “Agua” (water) in Portuguese in a gesture appeared to encourage people to drink water instead of aerated drinks. Not long after, Coca-Cola, one of the official sponsors of Euro 2020, saw its market value drop by $4 billion from $242 billion to $238 billion. By the end of the press conference, Coca-Cola’s share price dropped from $56.10 to $55.22 – a 1.6 percent drop.

Ronaldo is the captain of the Portugal football team and a well-known fitness enthusiast. He is one of the greatest footballers in the world, follows a strict diet, and avoids sugary drinks.

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