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‘Drink water’: Ronaldo removes Coca-Cola bottles in press conference
‘Drink water’: Ronaldo removes Coca-Cola bottles in press conference
‘Drink water’: Ronaldo removes Coca-Cola bottles in press conference
Coca-Cola shares drop $5 billion after Cristiano Ronaldo’s gesture to drink water. Cristiano Ronaldo’s gesture for people to drink water instead of Coke at a Euro 2020 press conference may have cost the soda company $4 billion in market value.
As of Thursday, Coca-Cola’s stock price was trading even lower to close at $54.95, bringing its total market value down by $5.1 billion to $236.9 billion from $242 billion.. Coca-Cola is one of the sponsors for the UEFA EURO 2020 tournament and a statement from the company reviewed by the Guardian said, “everyone is entitled to their drink preferences.”
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Before Portugal’s Euro 2020 football championship opener, Cristiano Ronaldo was preparing for a pre-match press conference. Two minutes before it began, the Juventus megastar forward put aside the two Coca-Cola bottles placed in front of him and said “agua” (water) while smiling to the journalists.
In 2016, the Oxford English Dictionary’s Word of the Year was “post-truth.” Post-truth is defined as “relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief”. The phrase gained prominence during the Trump presidency and the UK’s Brexit referendum
Over the past year of the pandemic, for instance, we have all listened to people without any medical qualifications expound on the health crisis. Unfortunately, their comments frequently influenced decision-making.
After Cristiano Ronaldo snub, Coca-Cola lost $4 billion [3]
Global beverage giant Coca-Cola Company lost $4 billion in market capitalisation following Cristiano Ronaldo’s removal of two Coca-Cola bottles during a press conference at the Euro 2020.. The 36-year-old Portuguese and Juventus FC striker moved the two bottles aside as he spoke to the media ahead of Portugal’s first game of the tournament against Hungary.
According to Australian Associated Press, Coca-Cola’s share price slipped from $56.10 to $55.22 almost immediately after this gesture by Ronaldo, translating to a 1.6 per cent drop. The market valuation of Coca-Cola went from $242 billion to $238 billion, thereby registering a fall of $4 billion.
The company replied with a statement on Tuesday that said “everyone is entitled to their drink preferences” with different “tastes and needs”, the report said.. In Tuesday’s game against Hungary, Ronaldo scored twice in Portugal’s 3-0 victory, thereby moving beyond France’s Michel Platini as the record goalscorer at the European Championship finals with 11 goals.
Coca-Cola Shares Just Plummeted Thanks to Soccer Star Cristiano Ronaldo. Market value dipped after the Portuguese footballer opted for water over Coke in a press conference.
“Agua!” the Portuguese footballer exclaimed—an innocent enough endorsement to hydrate, right? Wrong.. The Guardian reports that the snub has caused Coca-Cola stocks to drop from $56.10 to $55.22, and while that might not seem like a crazy jump, that translates into a nearly $4 billion dip in market value
“Everyone is entitled to their drink preferences,” a spokesperson for the Euro 2020 tournament said, according to The Guardian. “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conference.”
Beverage makers mocked after soccer stars Ronaldo and Pogba snub drinks [5]
ET): A previous version of this article incorrectly stated Ronaldo’s gesture eliminated $4 billion from Coca-Cola’s stock valuation. The company’s stock price, however, had begun to dip even before the gesture, and there is no evidence of a causal relationship between the gesture and the stock price.
Both Portuguese forward Cristiano Ronaldo and French midfielder Paul Pogba slid bottles from the sponsors away from themselves during separate press conferences.. On Monday, ahead of Portugal’s opening game at the Euro 2020 tournament against Hungary, in Budapest, the health-conscious Ronaldo was caught on camera as he moved the soft drinks away from him
Later, Pogba, a Muslim, removed a bottle of Heineken beer from him during a press conference.. Headlines and social media conversation noted that Coca-Cola’s share price fell Monday and attributed it to the global soccer star’s actions
Cristiano Ronaldo snub sees Coca-Cola market value fall by $4bn [6]
Cristiano Ronaldo’s removal of two Coca-Cola bottles at a Euro 2020 news conference coincided with a $4 billion drop in the market value of the American drink giant.. The Portugal captain was visibly troubled when he saw two bottles of the carbonated soft drink in front of him as he sat down to speak to the media on Monday in Budapest ahead of his national team’s Group F opener against Hungary.
Ronaldo, an advocate of a healthy diet, moved the glass bottles out of the camera frame and instead held up a bottle of water and said in Portuguese: “Water!”. Coca-Cola saw its share price drop by 1.6% to $55.22 soon after Ronaldo’s actions
Coca-Cola, an official sponsor of Euro 2020, responded in a statement that “everyone is entitled to their drink preferences” with different “tastes and needs.”. Coca-Cola company has 200 brands worldwide, including different types of water
Ronaldo’s Coca Cola gesture followed by $4bn drop in company’s market value [7]
Cristiano Ronaldo’s removal of Coca Cola bottles at a Euro 2020 press conference on Monday was followed by $4 billion being knocked off the company’s market value.. Ronaldo was speaking at a press conference ahead of Portugal’s game against Hungary on Monday when the soft drinks were placed in front of his seat
The gesture coincided with a significant impact on Coca Cola’s market value.. Ronaldo, his swipe at Coca-Cola, share price ‘nonsense’, hypocrisy and how ‘fuming’ UEFA will act
But by the end of the press conference, they had fallen to $55.2 each.. That is a 1.6 per cent drop in share price, which means a $4 billion loss in market value.
The Ronaldo Effect [8]
An interesting phenomena happened last week; Coca-Cola saw its share price drop from $56.16 close of Friday, 11 June, to about $55.30 during opening on Monday, 14 June (a 1.6% drop or $4BN loss in market value). At the same time as the markets opened on Monday in New York (9:30AM EST), Ronaldo was getting ready for his soon-to-be memorable EUFA 2020 press conference in Budapest
At 9:40AM EST, Coca-Cola’s stock price was $55.26 (down 1.6%). At 9:43AM EST, Ronaldo picks up the two Coke bottles, moves them away, picks up a bottle of water, and says “Agua!” to the audience
The action itself was not news worthy — “Athlete chooses water over fizzy drink”. But because it was Cristiano Ronaldo, one of the most famous athletes in the world, and because it was Coca-Cola, the largest producer of sugar beverages, the event was news worthy
Dentists speak out on Ronaldo’s Coca-Cola snub – Dentistry [9]
‘The end of sugary drinks?’ – Ronaldo’s Coca-Cola snub slashes billions off company’s market value. Dentists have praised Cristiano Ronaldo for removing two Coca-Cola bottles during a press conference, leading to a drop in the company’s share prices.
Instead he opted for a nearby bottle of water, declaring ‘agua’ – appearing to encourage its consumption over the sugary drink.. As a result, the share price of Coca Cola – who are one of the official sponsors of Euro 2020 – has since plummeted by 1.6%, marking a drop of $4billion.
‘The power of celebrities has been shown to Coca-Cola when Ronaldo wipes $4bn off their share price by one gesture,’ he said.. ‘Footballer Ronaldo rejects the two bottles of Coca-Cola at his Euro 2020 press conference
Cristiano Ronaldo, Coke Stock, and the Increasingly Unmoored Nature of Reality [10]
The stock market is in a wild place; valuations are sky-high, arguably untethered from reality in many cases, and even apparently meaningless moments can seemingly create or erase billions of dollars in value. And, amid the sloshing glut of capital in the markets, even those objectively huge sums can be rendered ultimately pointless.
That translates to $4 billion lost, all seemingly because a veteran athlete chose water instead of the drink that doubles as a toilet cleaner.. The move has widely been described as a “snub,” and some have insisted Ronaldo was “visibly troubled” by the Coke
So, why are we talking about an athlete’s drink preferences? The whole thing is nearly as absurd as a sugary soft drink company sponsoring a top athletic event and everyone pretending to be shocked that one of the best athletes in the world drinks water. And while $4 billion is a completely unimaginable sum to almost everyone reading about this event in the news, it’s essentially meaningless in today’s stock market
Coca-Cola lost $4 billion in market value after soccer star Cristiano Ronaldo suggested people drink water instead [11]
– Coca-Cola’s market value dropped by $4 billion on Monday after Cristiano Ronaldo snubbed its drinks.. – The Portugal captain shifted two bottles of Coke away from him at a Euro 2020 press conference.
The soccer superstar Cristiano Ronaldo’s gesture at a Euro 2020 press conference on Monday wiped $4 billion off Coca-Cola’s market value.. Ronaldo, sat beside Portugal manager Fernando Santos ahead of his team’s match against Hungary, irritably set aside two bottles of Coke, then picked up a bottle of water and said, “Água!” — the Portuguese word for water.
Its market value dropped by $4 billion, to $238 billion from $242 billion. The soft-drink manufacturer’s shares continued to slide on Tuesday, falling by 0.3%.
Ronaldo and Coca-Cola Make It Clear: It’s Time for Major Rightsholders to Grow Up [12]
“Cristiano Ronaldo snub wipes billions off Coca-Cola’s market value.”. But they were hardly alone, with one after another major media outlet breathlessly decrying the supposed power of one superstar athlete to damage a global brand with a momentary gesture.
On 14 June, a few days into the COVID-rescheduled Euro 2020 competition, superstar and Portugal captain, Cristiano Ronaldo, appeared at a pre-game press conference. Upon taking his seat, he shifted the two bottles of Coca-Cola in front of him to an off-camera position, raised his bottle of water, and said, “Agua” (“water” in Portuguese)
Roughly coinciding with that move, Coca-Cola’s share price dropped, reducing their market valuation by US $4 billion. The operating word here is “roughly”, because most of the share price fall occurred in the 15 minutes the stock exchange was open before Ronaldo’s press conference began
Could Coca Cola use humour to respond to Ronaldo? [13]
On Monday 14 June 2021, Coca Cola lost $4bn in it’s share price after footballer Cristiano Ronaldo moved two of it’s bottles slightly to the left on a table. Disclaimer: this incident may not have been the only factor in the share price drop
Coca Cola responded by issuing a statement the following day confirming that “Everyone is entitled to their drink preferences,” and that “each individual has different tastes and needs”. Managing to simultaneously both shut down the incident and win the award for the best statement that doesn’t actually state anything at all.
One logical solution would be for Coca Cola to try shifting the bottles in the opposite direction on the table, thereby potentially adding $4bn to the share price.. Unfortunately any attempt at such scientific experimentation was barred by UEFA subsequently banning the moving of drinks bottles in press conferences (no really, this is true – https://www.bbc.co.uk/sport/football/57517337)
Cristiano Ronaldo’s witty gesture causes $4bn loss for Coca Cola [14]
Cristiano Ronaldo’s witty gesture causes $4bn loss for Coca Cola. As reported by Marca, at the market’s open in Europe, Coca Cola’s shares were worth $56.1, but by the time Ronaldo and his Portugal boss Fernando Santos left their seats at the press conference, shares had dropped to $55.2 each.
Ronaldo sent a witty message over Coca Cola during a Portugal press conference during Euro 2020.. After taking his seat during a press conference, the former Real Madrid superstar picked up the two bottles of Coca Cola which were laid out ready on the desk and said “Water
But what Ronaldo may not have realised is the huge financial impact he would have on Coca Cola with those words.. As reported by Marca, at the market’s open in Europe, Coca Cola’s shares were worth $56.1, but by the time Ronaldo and his Portugal boss Fernando Santos left their seats at the press conference, shares had dropped to $55.2 each.
Cristiano Ronaldo sends Coca Cola stocks plummeting with costly Euro 2020 stunt [15]
Cristiano Ronaldo wiped over AU$5 billion off the market value of Coca Cola after hijacking his own Euro 2020 press conference to throw away two bottles of the soft drink.. The Portugal star opened his nation’s title defence with two goals in a 3-0 win over Hungary overnight, with the 36-year-old becoming the all-time top scorer at the European Championships.
Watch every Matildas FIFA Women’s World Cup™ match live and free on 7plus >> or stream all matches on Optus Sport >>. Euro 2020 sponsor Coca Cola is front and centre at the official press conferences via bottles of their product sitting at the microphones.
As soon as he sat down he picked up the soft drinks, moved them out of his picture, raised another bottle and said one word: “Agua!” – water in Portuguese.. The stunt cost Coca Cola to the tune of AU$1.10 per share – or about AU$5.2 billion in market value – almost immediately.
Cristiano Ronaldo’s Virtue Signaling Cost Coca-Cola $4 Billion While Exposing His Own Hypocrisy [16]
During a Euro 2020 press conference on Monday, Cristiano Ronaldo purposefully moved two strategically placed Coca-Cola bottles out of view. He then picked up a water bottle and set it down in the middle of the desk while proclaiming in Portuguese, “Água.” By the end of the press conference, shares of Coca-Cola had plunged 1.6% to $55.22, resulting in a a $4 billion loss in value for the beverage giant.
Within the media world, Ronaldo’s public rebuke of Coca-Cola was widely considered a contributing factor to the dip in the company’s stock price, and by Thursday’s end its shares had further dropped to $54.95.. A day later, Manchester United midfielder Paul Pogba followed in Ronaldo’s footsteps by removing an alcohol-free bottle of Heineken from the press conference table after France’s 1-0 win over Germany
These moves left sponsors and tournament organizers embarrassed and scrambling to limit the potential damage to tournament sponsors who had paid about $30 million for their rights. Although UEFA hadn’t taken any disciplinary action against Ronaldo or Pogba, they had contacted all the national football associations to tell players to not move drinks at press conferences and avoid actions that could affect tournament sponsors.
Cristiano Ronaldo’s Snub Sees Coca-Cola’s Market Value Drop By Billions [17]
Cristiano Ronaldo has proven just how big of an influence he is on his fans after Coca-Cola’s market value dropped by a staggering $4 billion (€3.3 billion) after the footballer snubbed the famous beverage.. The incident in question took place during a Euro 2020 press conference on Monday
To add insult to injury, Coca-Cola is an official sponsor of the Euros 2020, a marketing move that should have seen their sales increase not decrease.. Despite the fact the fizzy drink bottles were clearly a strategic placement, the footballer almost seemed offended by the presence of the fizzy drink.
This small dismissal isn’t that big of a surprise in itself. Ronaldo is an athlete, after all, which means staying hydrated is important
Two Words Just Cost Coke $4 Billion (and Shows the Power of Fame) [18]
Two Words Just Cost Coke $4 Billion (and Shows the Power of Fame). Half a billion followers > a multi-million dollar deal
Minutes later, the price had dropped to $55.20 each. But it represented a decrease of over $4 billion in Coca-Cola’s market value.
It shows how quickly a sponsorship deal can unravel.. Grab a drink of water, and let’s take a quick look at Ronaldo vs
Coca-Cola Drops $4 Billion in Market Value After Cristiano Ronaldo Urges People To Drink Water Instead [19]
Coca-Cola Drops $4 Billion in Market Value After Cristiano Ronaldo Urges People To Drink Water Instead. The soccer superstar’s press conference stunt has savaged Coke’s bottom line.
It’s an incredibly durable brand, then—but even Coke is vulnerable to a hit from the biggest star in soccer, Cristiano Ronaldo.. A $4 billion hit right in the corporate gonads (a.k.a
Market value for the company dropped from $242 billion to $238 billion – a $4 billion plunge.. Ronaldo’s gesture was surprisingly simple and one you’d expect from a top-tier athlete known in part for his ripped physique
Ronaldinho Loses Millions from Coca-Cola After Ridiculous Pepsi Gaffe [20]
Ronaldinho Loses Millions from Coca-Cola After Ridiculous Pepsi GaffeJuly 11, 2012. Ronaldinho may be laying off the soft drinks for a while
The Sun reports the soccer star, who has a sponsorship deal with Coca-Cola, was giving a harmless press conference at his new club Atletico Mineiro, a team that is currently sponsored by Pepsi. So it makes sense that a can of the stuff was sitting precariously in front of Ronaldinho as he doled out answers.
The buck-toothed star will lose £1,000,000 in unpaid earnings after he was spotted with the rival firm’s drink as he spoke to journalists at his new club, Atletico Mineiro.. The star’s £500,000-a-year contract with the drinks giant had been scheduled to run until 2014.
Cristiano Ronaldo Pushes Aside Two Coke Bottles, Coca Cola Stock Loses Rs. 30,000 Crore In Value [21]
When global corporations sponsor sports tournaments, they hope for increased visibility, more eyeballs, and the halo effect of being associated with the best athletes in the world. But when the athletes themselves aren’t the biggest fans of their products, the results can be drastically different.
Before the press conference started, Ronaldo noticed two Coca Cola bottles which had been kept on the table. Coca Cola is one of the sponsors of the tournament, and the bottles had been likely kept there as a part of a sponsorship agreement
He then picked up a bottle of water that was kept nearby, and appeared to mouth the word ‘agua’, which is Portuguese for water.. It was an innocuous-enough gesture, but Coca Cola’s stock, which was trading at $56.10 at the beginning of the press conference, had dropped 1.6 percent by 55.22 by the end
Ronaldo Didn’t Wipe $4bn Off Coca Cola [22]
We’ve seen England players and being booed by their own fans for taking a knee, Ukraine’s shirt controversy and Arnautovic bring up Albanian–Serbian tensions on the pitch.. In this article, we’re going to focus on the Ronaldo Coca-Cola incident
Many media outlets were quick to attribute this snub to Coca-Colas $4 billion loss in its market capitalisation. Social media further pushed this headline-grabbing narrative.
A closer look at the stock market data proves that Ronaldo did not cause the drop in the share price.. The press conference occurred on Monday 14th July at 15:45 CET
Sources
- https://www.usatoday.com/story/money/2021/06/16/coca-cola-shares-dropper-after-christiano-ronaldo-moves-coke-bottles/5293590001/
- https://www.forbes.com/sites/iese/2021/06/19/a-post-truth-world-why-ronaldo-did-not-move-coca-cola-share-price/
- https://indianexpress.com/article/business/world-market/coca-cola-share-price-slips-1-6-per-cent-market-valuation-lost-usd-4-billion-cristiano-ronaldo-gesture-euro-2020-7361343/
- https://www.thrillist.com/news/nation/coca-cola-shares-plummeted-cristiano-ronaldo
- https://www.nbcnews.com/news/world/snub-soccer-star-cristiano-ronaldo-wipes-4-billion-coca-cola-n1270981
- https://www.espn.co.uk/football/story/_/id/37618171/cristiano-ronaldo-snub-sees-coca-cola-share-price-fall-4bn
- https://theathletic.com/4209636/2021/06/15/ronaldos-coca-cola-gesture-followed-by-4bn-drop-in-companys-market-value/
- https://medium.datadriveninvestor.com/the-ronaldo-effect-ee70850028c7
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- https://www.vice.com/en/article/wx5g5w/cristiano-ronaldo-coke-stock-and-the-increasingly-unmoored-nature-of-reality
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- https://powersponsorship.com/ronaldo-coca-cola-make-it-clear-its-time-for-rightsholders-to-grow-up/
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- https://www.tbsnews.net/sports/cristiano-ronaldos-witty-gesture-causes-4bn-loss-coca-cola-261487
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- https://evoke.ie/2021/06/16/entertainment/celebrity/cristiano-ronaldos-coca-cola-snub
- https://bettermarketing.pub/two-words-just-cost-coke-4-billion-and-shows-the-power-of-fame-57a07c1f71dd
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- https://bleacherreport.com/articles/1255108-ronaldinho-loses-millions-from-coca-cola-after-ridiculous-pepsi-gaffe
- https://officechai.com/stories/cristiano-ronaldo-pushes-two-coke-bottles-during-press-conference-coca-cola-stock-loses-rs-30000-crore-in-value/
- https://www.islamicfinanceguru.com/articles/general/ronaldo-didnt-wipe-4bn-off-coca-cola-that-was-just-market-fluctuations
