Coca-Cola lost $4 billion in market value after Cristiano Ronaldo suggested people should drink water instead

The stock price of one of the largest bottlers of the drink, Coca-Cola Bottling, fell 4% on Monday, and is down 8% in the past week.

Coca-Cola is one of the official sponsors of the UEFA EURO 2020 tournament. The company reportedly issued a statement about the incident, saying “everyone is entitled to their drink preferences” and have differing “tastes and needs.”

A Euro 2020 spokesperson added: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conference.”

Ronaldo has previously spoken about his disapproval of Coca-Cola and other unhealthy food and beverages. He follows a fitness routine that includes eating six meals and taking five naps on a typical day.

In 2020, he said he gets irritated with his son Cristiano Jr. who likes to drink the soda.

Source: Business Insider

KETH BOAH

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