• Networks "Water. Coca-Cola no": Cristiano Ronaldo's viral gesture at the Eurocup press conference

  • USA The GameStop case or how a 'trolling' on Reddit triggers the shares of a company adrift

Cristiano Ronaldo

arrived at the press conference, sat down before the journalists, realized that he had two bottles of Coca-Cola in front of him, pushed them away and shouted, like someone who had discovered the wheel, "Water, Coca-Cola! not!".

The video went viral hours later and the company lost nearly $ 4 billion that day on the stock market.

Chance or causality?

At a time when a tweet from Elon Musk is capable of plunging the price of bitcoin or when a group of Reddit foreros deals a billions of euros hit to large funds through dying firms like GameStop, it is easy or Tempting to think that CR7's gesture was the catalyst for Coca-Cola's downfall on Wall Street.

And there is part of the truth in that, but it is not the only reason, and perhaps not the most important. The company closed on Friday with a price per share of $ 56.18, up from $ 55.55 with which it ended on Monday. That day, June 14, was the date set for

shareholders entitled to receive the

42-cent

dividend

, to be paid on July 1, and this was one of the main catalysts for investors who had their sights set on the multinational.

"The fall largely corresponds to that payment of the dividend, although it is true and it cannot be ignored that CR7's gesture generates some controversy and could be added to that other reason," explains

Darío García, an

analyst at XTB.

"Coca-Cola is a growth company that pays interesting dividends and is currently on the way to recovering the level of $ 60 per share it had before the start of the pandemic," he adds.

Garcia concedes that in the short term there is nothing else that will cause the company's downfall and compares the "emotional" behavior of some investors with the recent reactions to the Tesla founder's tweets.

The company accumulates a rise of 5% so far this year and begins to leave behind the losses caused by the stock market shock of the coronavirus. Its shares are currently trading at $ 55.41. "In general, it has not been such a big deal. Look at what it represents for Coca-Cola's share. In absolute terms it is a hole of 4,000 million dollars, but in percentage it is a drop of 1.6%", says

Adrián Mediavilla

, co-founder of the creative consultancy Slapglobal.

Now, one thing is the financial impact and quite another the repercussion that the Portuguese gesture can have on the brand and its reputation. And here too, in Mediavilla's opinion, the impact is very limited. "I think it has the impact of things in networks: you see it today, you forget it tomorrow. Coca-Cola is the seventh advertiser in the world, we receive its impacts every day." In this sense, he points out that "for me the interesting reflection is the power that footballers have in the face of competitions. The example of CR7, which has 299M

followers

on Instagram while Euro2020 has 7.5M and UEFA only 3M" .

It could also be the start of other similar reactions.

In fact, another footballer,

Paul Pogba

, has starred in a similar scene in the press conference after France-Germany, where he was chosen MVP of the match.

The Frenchman set aside the beer from the Eurocup sponsor, Heineken, although this time he did keep that of Coca-Cola and that of water.

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