Coca-market Cola's value plummets by $4 billion as a result of Cristiano Ronaldo's water choice.
This is not particularly good news for Coca-Cola shareholders.
According to USA Today, the soft drink corporation's market value plummeted by $4 billion following a memorable moment in which soccer superstar Cristiano Ronaldo held up a bottle of water rather than Coca-Cola.
Ronaldo pushed two Coca-Cola bottles aside during Monday's Euro 2020 press conference, before lifting the water and exclaiming, "Agua!"
Coca-Cola is now valued at $238 billion. It was previously valued at $242 billion, but shares fell nearly a dollar to $55.22 this week, according to USA Today.
Coca-Cola is a tournament sponsor.
“At our press conferences, players are offered water in addition to Coca-Cola and Coca-Cola Zero Sugar,” a Euro 2020 representative told The Guardian.
Euro 2020 was originally scheduled for last summer but was moved to this month due to the COVID-19 pandemic.
Ronaldo, 36, scored two goals to help Portugal defeat Hungary 3-0 on Tuesday. He has now scored 11 goals in five tournament appearances, the most ever.
Portugal won the last Euro championship in 2016.