Ronaldo and Coca-Cola: a new, sensational chapter is added to the controversy: second Forbes the gesture of the Portuguese champion who had removed two bottles during the press conference not only would it not have caused the stock to collapse, but it would have favored the well-known brand.
Here’s how Ronaldo really impacted the Coca-Cola stock
After the episode, the news spread that Ronaldo’s gesture had cost the company a whopping 4 billion dollars. And on this news hundreds of articles have been published and even more social comments of all kinds have been written, only in Italy. but yet much of this conjecture was built on a shaky, if not false, premise. It is true that Ronaldo, in front of the press, has moved the strategically placed Coca-Cola. It is also true that, at the end of the press conference, the value of Coca-Cola had dropped by 4 billion dollars. However, it was other factors that affected the beverage giant’s share price, a number of other purely economic-financial factors. In reality, the “collapse” of the stock took place three minutes earlier of the gesture of CR7. Coca-Cola’s market value had already dropped by $ 4 billion by the time of Ronaldo’s confrontation. But there is more: from the time CR7 moved the bottles to the end of the day on Wall Street, Coca-Cola’s share price went up by $ 0.30, adding $ 1.3 billion in valuation to the company.