COCA-COLA SHARE PRICE DROPS AFTER RONALDO INCIDENT

Portuguese footballer, Cristiano Ronaldo, made headlines when he moved two Coca-Cola bottles out of view and replaced them with water. He then went on to hold up the bottle of water before saying "agua" which means water in Portuguese.

The incident took place in Budapest on Monday during a Euro 2020 press conference, before his national team played against Hungary.

Many health fanatic celebrities and sports stars around the world showed their support for him on social media, but Coca-Cola's share price took a knock.

While it's not expected to do any lasting damage, Coca-Cola's share price dropped by 1.6%, from $56.10 to $55.22, almost immediately after Ronaldo's gesture. The market value of Coca-Cola went from $242bn to $238bn – a drop of $4bn, reports CNN.

On Tuesday, French footballer Paul Pogba removed a bottle of non-alcoholic Heineken beer during his press conference. His national team beat Germany 1-0 and he was named man of the match.

Back in 2017, Pogba made it known on Twitter that he does not drink alcohol and, judging by his actions, not even the non-alcoholic beers. Fans are suspecting it might be related to his religious beliefs as he is Muslim.

Watch the Moneycontrol video below for more on how Ronaldo's move caused Coca-Cola's share price to fall.

Image credit: The Indian Express