Does Coca-Cola lose $ 4 billion after the gesture of Cristiano Ronaldo?
Publications have blamed Cristiano Ronaldo for the drop in Coca-Cola’s shares because he took two bottles out of the way in an interview! Could it be true?
The statement spread on social media at the end of the first half of June 2021
The Coca-Cola Company’s shares indeed dropped in value, but the footballer’s gesture didn’t have much influence on that, since the drop had already been occurring before this happened!
Coca-Cola didn’t have the best start. After seeing Cristiano Ronaldo take two bottles of the soft drink out of the way. Click here to watch the video on youtube
By the time Cristiano Ronaldo pushes the bottles of the soft drink away, the multinational had already lost about $2.1 billion in market value.
At Portugal’s press conference yesterday (14) at the Euro cup, the company showed a loss of $4 billion in market value on the New York Stock Exchange (USA) right after the Portuguese’s attitude
Coca-Cola’s shares on the market were costing about US$ 56.10. Half an hour later, the shares showed a devaluation of 1.6%, reaching a low of US$55.22. The Spanish newspaper “Marca” states that the fall happened 30 minutes after the end of Cristiano Ronaldo’s press conference
The stock drop caused Coca-Cola to have a loss in the total market value of $4 billion, falling from $242 billion to $238 billion
As explained by Nasdaq, one of the reasons for this drop was the dividend discount Coca-Cola gave to its shareholders that day. Several media vehicles, among them the Portuguese network TVI24, showed that the player Cristiano Ronaldo took bottles of Coca-Cola at 3:43 pm, 13 minutes after the opening of the trading session in the United States. With this, it was proven that the fall in the value of Coca-Cola’s shares had already begun even before the star made that gesture.
Last year, Cristiano Ronaldo had already criticized the consumption of soft drinks when talking about the diet of his oldest son, named Cristiano Ronaldo Junior, 10 years old.
“I am hard on him sometimes because he drinks Coke and Fanta. I get annoyed with him when he eats potato French fries and everything, and he knows I don’t like it. Even my younger kids, when they eat chocolate, they always look at me, said CR7 (Cristiano Ronaldo)”
Throughout the day on June 14, 2021, the shares of the beverage manufacturer recovered almost 100% of the losses, closing the day at $55.55
Conclusion
Soccer player Cristiano Ronaldo’s gesture of pushing two Coca-Cola bottles away from him was not the reason for the drop in the beverage maker’s shares! The stock market in the United States already opened with the company’s shares down, partly due to the announcement of the dividend payment to its shareholders. Nevertheless, Coca-Cola managed to recover on the same day.
