Euro 2020: Coca-cola loses $4 billion after Cristiano Ronaldo removes soft drink to endorse water

Coca-cola is set to lose a whopping amount of $4 billion after Portugal talisman footballer removed soft drink in the press conference and endorsed water. Ronaldo removed the two bottles of soft drink which were placed at the table as he took his seat.

This gesture from the star footballer has cost the company a fortune. The Coca-Cola stock prices plummeted by 1.6% and went from being USD 242 billion to USD 238 billion. Lifting up a bottle of water, Ronaldo said ‘Agua’ in Portuguese, urging people to drink water instead.

According to a report in The Daily Star, the gesture by the football icon reportedly cost the company $4 billion in stock value. The Coca-Cola stock prices plummeted by 1.6% and went from being USD 242 billion to USD 238 billion after the Cristiano Ronaldo controversy according to the report.

Meanwhile, Cristaino Ronaldo scored a brace in the team’s opening match against Hungary in Euro 2020 to help them win by 3-0. Ronaldo also became the highest goal-scorer in Euro history as he went past France’s Michel Platini’s record, who had scored nine goals in five matches.

Ronaldo has now scored 11 goals in the tournament and he will look to add more to his tally in the coming matches against France and Germany.

The linchpin converted the penalty in the 87th minute and also scored in stoppage time to get his team off to a perfect start. Ronaldo will look to continue his good form and he will try to help his team defend their Euro title.

On the other hand, Hungary showed great fight as they kept Portugal at bay in the first 80 minutes of the game. However, Raphael Guerreiro was able to find the back of the net after his shot took a deflection in the 84th minute.