Coco Cola’s Share price plummets 1.5 % after the Cristiano Ronaldo Gesture
Unless you live under a rock, you probably heard of the Name Cristiano Ronaldo, who is the most popular celebrity in the world and one of the most influential sports stars of his generation(possibly ever). Given his god-like influence, his every action is bound to have some impact on the world. Unfortunately for Coke, Ronaldo’s latest move cost them approximately 5 billion dollars
In a press conference for Hungary Vs Portugal Euro 2020 Group stage game, Ronaldo had moved two Bottles of Coca Cola placed before him and chose to endorse water instead, suggesting aerated drinks like coke are harmful and one should always prefer water. Since this gesture, Coca Cola’s share price had dropped 1.5 % from 56.10 USD to 55.22 USD. Coke’s Total Market Capitalisation decreased by 5 Billon USD. Social media enjoyed coke’s slump and the memes about the incident kept flowing.
Is Ronaldo a Hypocrite?
While the message behind Ronaldo’s Gesture is positive, A certain group of people are calling him a hypocrite for criticising Coca Cola despite appearing in a Coke Advertisement earlier in his career. There is also another theory that Ronaldo was asked by Herbalife(One of his sponsors) to snub Coca Cola. While his intention behind this whole fiasco is unknown, it is without a doubt that Cristiano Ronaldo is one of the most hardworking athletes of all time and his dedication to the sport is unparalleled. Suggesting Ronaldo had ulterior motives behind his actions is unfair and without evidence.
Everyone can take a page from Ronaldo’s book. His work ethic and discipline is admirable and serves as a motivator for many athletes around the world.
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