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Coca-Cola Shares Rebound after Ronaldo Snub

INTERNATIONAL: Shares in the world’s biggest soft-drink maker, Coca-Cola, have rebounded after plummeting on the New York Stock Exchange on Wednesday. The shares lost over $4-billion in value, after a simple gesture at a post-match media briefing at Euro 2020 in Portugal. It was what you might call a sponsor’s worst nightmare.

(VOICEOVER) Cristiano Ronaldo does not like soft drinks and made that pretty clear. He was at a post-match press conference on Monday, when he removed the two Coca-Cola bottles placed in front of him. “Água,” he said in Portuguese, picking up a bottle of water, seemingly encouraging others to do the same. The fact that he has nearly 300-million followers on Instagram, meant the incident went viral, causing Coca-Cola’s shares to lose their fizz.

The company is a major sponsor of the tournament and its products have been on display at press conferences. Coca-Cola has since issued a short statement saying "everyone is entitled to their drink preferences," and that each individual has different "tastes and needs".

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