Soft Drink Company Coca-Cola loses $4 billion market value with footballer's gesture!

Wed Jun 16 2021 12:59:23 GMT+0530 (IST)

A small act of Portuguese professional footballer Cristiano Ronaldo has resulted in carbonated soft drink Coca-Cola losing a market value of $4 billion, which translates to Rs 30,000 crore in Indian rupees.

The celebrated player appeared for a press conference on Monday before Portugal's match against Hungary. He removed the Coca-Cola bottles and replaced them with water bottles.

After the video of Ronaldo replacing Coca-Cola bottles with water bottles went viral on social media, the company lost a market value of $4 billion. The company's market value fell to $238 billion from $242 billion.

Coca-Cola, sponsor of Euro 2020 issued a statement on the development. In the statement, the company said, everyone, is free to drink what they like based on their taste and needs.

The 36-year-old footballer is a fitness freak and always endorses having a healthy diet. His strict diet helps him in maintaining a good physique, which reflects on the football ground.