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Did Cristiano Ronaldo Cost Coca-Cola $4 Billion in One Day?

The Italian Juventus striker removed two bottles of Coca-Cola from his table and exchanged them for water during a conference at the 2020 Euro Cup.

This article was translated from our Spanish edition.

This Tuesday, the shares of The Coca-Cola Company registered a loss of 1.6%, going from a price of $56.10 to $55.22. In this way, the value of the soft drink company lost 4 billion dollars in 24 hours.

HanFootball SV vía YouTube

This drop from $242 billion to $238 billion coincided with a gesture by Portuguese footballer Cristiano Ronaldo, who, during a press conference at the UEFA Euro 2020 Cup, removed two bottles of Coca-Cola from his table and exchanged them for water.

The Spanish sports portal Marca linked CR7's call to "drink more water" to the fall in Coca-Cola shares. However, this price cut began to take place half an hour before the statement of the Portuguese star and his video went viral on TikTok.

@ christianhliba

CR7 against Coca Cola ## cristiano ## parati ## cocacola ## cr7 ## soccer ## water

The Ketchup Song (Aserejé) - Spanish Version - Las Ketchup

It should be noted that, although Ronaldo's move could deepen the fall, this Tuesday was also the company's ex-dividend date. As Investopedia explains, last Friday, June 11, was the deadline day when the purchase of a security guaranteed the payment of next dividends, and a decrease in the value of the shares under these conditions is normal. 

The Coca-Cola Company shares have already partially recovered and reached the price of $55.42 at the close of trading on Tuesday.