The viral moment from a Euro 2020 press conference on Monday, when superstar Cristiano Ronaldo removed two Coke bottles from the table in front of him, coincided with a $4-billion drop in Coca-Cola's share price.
In a video that was shared widely on social media, Ronaldo encouraged those watching to drink water after moving a pair of Coke bottles out of view.
— B/R Football (@brfootball) June 15, 2021
Coca-Cola's share prices dropped from $56.10 to $55.22 soon after Ronaldo's actions, a 1.6 per cent drop, decreasing in market value from $242 billion to $238 billion.
The company's share price was $54.67 when markets closed on Wednesday.
Coca-Cola, a major sponsor of Euro 2020, said in a statement that "everyone is entitled to their drink preferences" reflecting different "tastes and needs."
Ronaldo's influence is far reaching, as the 36-year-old star has nearly 300 million followers on Instagram and more than 92 million on Twitter.
On Tuesday, he found the back of the net twice in Portugal's 3-0 opening win at Euro 2020 against Hungary to become the all-time leading scorer in European Championship history with 11 goals.
Ronaldo and Portugal next take the pitch on Saturday against Germany, another pivotal Group F match.