Coca-Cola management reacts after Cristiano Ronaldo's snub affect its business
On Tuesday, the beverage giant lost billions of dollars in market value after football star Cristiano Ronaldo placed aside two bottles of Coca Cola during a press conference and held up a water bottle instead. Ronaldo was seen at a press conference putting Coca Cola bottles aside while sitting down for a media interaction, taking the brand name. He then reached for a bottle of water and said yes to it. After this incident, in a matter of weeks, Coca-market Cola's value fell from $242 billion to $238 billion, a $4 billion drop. The incident was captured on video and quickly went viral on social media. Coca-Cola responded by saying that everyone is obligated to their drink preferences, citing different tastes and needs.