October 16, 2021

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Coca-Cola loses $4 billion after Cristiano Ronaldo’s press conference gesture

  • On Monday, Coca-Cola lost $4 billion after Cristiano Ronaldo put aside the soft drink company’s bottle aside, to show his displeasure of the product
  • The beverage manufacturer’s share price crashed after the gesture by the Juventus player during a press conference at the Euro 2021, before game against Hungry
  • Ronaldo doesn’t support the consumption of carbonated drinks, and has publicly spoken against it, stating that he tries to stop his son from taking them

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Cristiano Ronaldo’s gesture at the Euro 2021 press conference seem to have cost Coca-Cola $4 billion within one day, as the company’s share value tanked.

It was gathered that before speaking to the media on Monday, Coca-Cola share price was $56.1, but after the Juventus player moved bottles of the soft drink away from his press conference, the share value dropped.

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The stock price slumped by 1.6%, costing the beverage company $4 billion at the end of the media talk, as Coca-Cola share value dipped to $55.2 per share.

About $4 billion was lost by Coca-Cola after Cristiano Ronaldo gesture
Cristiano Ronaldo standing in front of a Coca-Cola banner. Photo: Nicolò Campo/LightRocket
Source: Getty Images

Ronaldo has often frowned at carbonated drinks, as he believes they are unhealthy, so he tries to keep his son, Cristiano Ronaldo Jr, who currently stars for Juventus’ youth squads, away from them.

The Portuguese international player had said:

“I’m tough on my son. Sometimes he drinks Coke and Fanta and eats chips and he knows I don’t like it,”

Meanwhile, Legit.ng had previously reported that Nigerian investors are not in agreement on the digital currency which the Central Bank of Nigeria said it plans to release.

The financial regulator said by the end of the year, Nigerians will be able to have a digital coin as replacement for cryptocurrency trading within the country.

The investors were divided on the impact of the government-backed electronic currency which is likely to compete against crypto in Nigeria.

Source: Legit.ng News