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Summary
- Cristiano Ronaldo’s gesture towards Coca-Cola bottles surprised everyone across the world.
- Portugal was playing against Hungary in a group stage match of Euro Cup 2020.
- Here’s how the football legend has affected Coca-Cola’s stock.
Who hasn’t heard of the ‘Ronaldo Effect'! Portugal skipper Cristiano Ronaldo always leaves behind an impact. And we are not just talking about his impact on the field, but what also he does off the field.
On Tuesday, June 15, the 'greatest' football player's gesture of removing Coca-Cola Company (NYSE:KO) bottles surprised football lovers across the world.
Before Portugal's group-stage match with Hungary began, Ronaldo was addressing a press conference where he noticed two coke bottles. He immediately removed them and picked up a water bottle, suggesting people should ‘drink water’.
The Portuguese star's gesture didn't seem to go down well with the investors as its shares crashed by 0.3 per cent by closing bell on Tuesday. Interestingly, Coca-Cola is a sponsor of the ongoing football championship Euro Cup 2020, and this gesture reportedly wiped of millions of dollars from beverage maker’s market cap.
Source:Pixabay
Meanwhile, two goals by Ronaldo helped Portugal beat Hungary by 3-0 in its opening match of the prestigious football championship.
This is not the first time when the Juventus star expressed concerns over soft drinks negative impact on health. In some of his interviews, he said that children should have a healthy diet and they should stay away from sugary drinks and junk food.
While talking about his relationship with his son in an interview, Ronaldo mentioned that he is tough on his son when the latter consumes Coke and Fanta.
Should you buy the Coca-Cola Company (NYSE:KO) stock?
Coca-Cola stock closed at US$ 55.41 apiece after the dip on June 15. The scrips surged by about 20 per cent in 12 months and eight per cent in the last three months.
On June 4, 2021, the cola stock touched a 52-week high of US$ 56.48.
One-year chart of stock performance, volume and moving average exponential of Coca-Cola (Source: Refinitiv)
Outperforming the S&P 500 Index, the stock grew by one per cent year-to-date (YTD), while the index dipped about 11 per cent in comparison.
In the first quarter results of this year, Coca-Cola's net revenues hit US$ 9 billion, up five per cent year-over-year (YoY).
The beverage maker's cash flows from operations were US$ 1.6 billion in Q1 2021, an increase of US$ 1.1 billion from Q1 2020.
Please note: The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view. The reference data in this article has been partly sourced from Refinitiv.
