Coca-cola loses 4 billion dollars in revenue under 24 hours as world renowned footballer, Christiano Ronaldo endorses water.
During a press conference at the ongoing Euro2020, the 36-year-old Juventus player had removed the two coca-cola bottles set before him and picked the bottled water, raised it up, and shouted water “agua” in Portuguese to show fans he encourage drinking of water.
This episode which many assumed was harmless and a great way of influencing a healthy lifestyle has now cost global beverage giant, Coca-cola a whopping 4 billion dollars.
According to reports, their share price dropped by 1.6% from $56.10 to $55.22 hours after the incident. Their market value also went from $242bn to $238bn, a difference of $4bn.
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