Cristiano Ronaldo scores goals. Apparently, he also moves the markets.
The 36-year-old scored twice to help power Portugal to a 3-0 victory over Hungary in group-stage play at Euro 2020 on Tuesday, but just a day earlier, the superstar was making an impact off the field when he removed two Coca-Cola bottles from the podium at which he was sat for a pre-game press conference.
The unexpected action went viral, as Ronaldo's bemused stare at the bottles, followed by him telling assembled media to "drink water," was shared and posted all over social media.
And while it made for a strange moment, the real ripples were felt in Coca-Cola's stock price, which dropped 1.6 percent to $55.20 per share later Monday. That translates to roughly $4 billion in lost market value, which could buy a lot of Coke — or water.
But did Ronaldo's unscripted moment really have an effect? It's hard to say for sure, as the Portuguese star is one of the world's most-followed people on social media, and his words carry a lot of weight.
Is it just coincidental that Coca-Cola's value dropped in the immediate aftermath of one of the most famous people on Earth publicly snubbing their main product? It could be, but the soda company surely doesn't want to repeat the scenario to find out.
Coca-Cola is, of course, a Euro 2020 sponsor, prompting a tournament spokesperson to tell the Guardian that everyone "is entitled to their drink preferences."
“Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”
The controversy with sponsors' bottle placements at Euro 2020 press conferences continued Tuesday when France midfielder Paul Pogba — a practicing Muslim who doesn't drink alcohol — removed a Heineken bottle from the podium.
Pogba left the Coca-Cola bottles alone, though.