Cristiano Ronaldo’s act wipes off $4 billion from Coca-Cola’s market value; company responds

Global beverage brand Coca-Cola suffered a $4 billion drop in market value following footballing star Cristiano Ronaldo's gesture at a pre-match press conference ahead of Portugal's clash with Hungary on June 15. Here is all you need to know.

A small gesture by star footballer Cristiano Ronaldo at a pre-match press conference — ahead of the Euro 2020 clash between Portugal and Hungary — has left a big dent in Coca-Cola’s market value. Cristiano Ronaldo was angry because they put Coca Cola in front of him at the Portugal press conference, instead of water!He moved them and said "Drink water" pic.twitter.com/U1aJg9PcXq At the pre-match press conference, Ronaldo pushed aside a couple of Coke bottles that were kept in front of him. The 36-year-old moved the bottles out of the frame and then went on to display a water bottle in front of the press gathered for the conference. Ronaldo also said “agua” — which means water in Portuguese — after holding up the bottle of water as a sign of endorsement. His gesture soon went viral on various social media platforms and was shared widely across the globe.