Coca-Cola loses £3bn after Cristiano Ronaldo gesture

Coca-Cola has lost a staggering $4 billion (£3 billion) after Cristiano Ronaldo's viral press conference stunt at Euro 2020.

Speaking to the media ahead of Portugal's opening clash with Hungary on Tuesday, Ronaldo didn't want two Coke bottles sitting on the desk in front of him.

Coca-Cola is the official sponsor of Euro 2020 and have placed two bottles in front of everyone speaking at press conferences.

But in a viral moment that has sent social media users into a frenzy, Ronaldo picked up the two Coca-Cola bottles and put them out of sight before holding up his water bottle and saying: "Drink water".

Coca-Cola probably wouldn't have been impressed by Ronaldo's actions, and even less so after taking a look at the stock market on Tuesday.

The company saw a staggering $4 billion wiped off its market value in the hours after Ronaldo's press conference.

According to The Athletic, Coca-Cola’s shares were worth $73.02 each before the press conference, but dropped to $71.85 afterwards.

That 1.6 per cent drop in value is worth the eye-watering total of $4 billion.

Coca-Cola released a statement after Ronaldo's presser, saying “everyone is entitled to their drink preferences” and everyone has different “tastes and needs”.