Before Portugal’s game against Hungary in the European Championship, we saw a gesture from Cristiano Ronaldo with one of the sponsors go viral. The Portuguese star removed some bottles of Coca-Cola and instead put a bottle of water, encouraging people to drink less soda.
What nobody expected is that this simple act could unleash a crash in the stock market of the shares of the soft drink company. It is true that Cristiano is one of the most influential people in the world, but it is very revealing that a simple comment has caused such a stir.
Before the press conference, the shares of the beverage brand were worth 56.10 dollars, but after the press conference, they fell to 55.20 per share. This implies that in just 30 minutes Coca-Cola went from being worth 242 billion to 238 billion, a true collapse in the value of a brand that what it was looking for was precisely to be related to these footballers. I do not think that Cristiano’s gesture was premeditated, but it has caused a real damage to Coca-Cola, which we will see if it does not take him to court, since the soft drink brand was sponsoring the European Championship.
I think it is positive that Cristiano promotes the consumption of water and a healthier life, but it should not conflict with the sponsorships that the event organizers have already signed, less specifically mentioning the brand as he does, he could have said “soda no” . In the end, I don’t think Coca-Cola will choose to sue Cristiano as it could do more damage to his image. Do not be surprised that instead of that, what we see is the Portuguese star starring in an advertisement for the brand and that in the end the matter is turned around.