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Home Business News Sports

Cristiano Ronaldo’s gesture reportedly tanks Coca-Cola’s share price by $4 billion

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
June 15, 2021
in Sports, Spotlight, Stock Market
Cristiano Ronaldo’s gesture reportedly tanks Coca-Cola’s share price by $4 billion

Soccer Football - Euro 2020 - Portugal Press Conference - Puskas Arena, Budapest, Hungary - June 14, 2021 Portugal's Cristiano Ronaldo during the press conference UEFA/Handout via REUTERS ??ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES

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Cristiano Ronaldo’s recent gesture towards bottles of Coca-Cola may have adversely impacted the share price of the company.

Ronaldo removed two bottles of Coca-Cola from his region during Monday’s news conference ahead of Portugal’s game against Hungary. The Portuguese star sat down and spotted the two bottles of the carbonated drink and pushed them aside. Unfortunately, the gesture had a big negative influence on the brand.

READ: Cristiano Ronaldo: The billionaire businessman you probably don’t know about

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The Portuguese international has even said in some interviews that it is important for children to have a healthy and healthy diet, away from sugar and fats. Being asked on one occasion about his relationship with his son on this issue, Ronaldo was clear. “I’m tough on my son. Sometimes he drinks Coke and Fanta and eats chips and he knows I don’t like it,” he said.

A drop in share price for Coca-Cola

According to The Athletic, Coca Cola’s shares were worth $56.1 each when the market opened in Europe on Monday. But by the end of the press conference, they had fallen to $55.2 each. The 1.6% drop in share price meant a loss of $4 billion dollars in terms of company worth. At the time of writing this article, the stock price has seen some recovery to $55.44.

It is important to note that Coca-Cola shares were on a bearish trend on Monday trading session with a dropped by -1.09%. Investors are expectant of a strong bullish recovery as regards their next earnings release.


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Tags: Coca-colaCristiano Ronaldo
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

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Comments 2

  1. Eteng says:
    June 15, 2021 at 9:49 pm

    God bless

    Reply
  2. Ogbodo Samuel says:
    June 16, 2021 at 11:46 am

    Because he is not ambassador of the product , that is why he moved them aside.

    Reply

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