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Cristiano Ronaldo snub wipes billions off Coca-Cola’s market value
- jamesdwilson 5y agoAnd with that, billions of people vote with their dollars and express their dislike of drinking Coca-Cola (and show Coke who is boss) instead by drinking Dasani, Smartwater, Topo Chico, and Aha.
- deleted 5y ago[deleted]
- century19 5y agoOr tap water.
- coolspot 5y agoYeah, like we do here in Flint, Michigan
- SahAssar 5y agoA lot of countries have good tap water, in those countries there is no reason to buy bottled. In places where that is not true it's probably still better to drink water than coca-cola.
- Mountain_Skies 5y agoMost people don't live in Flint.
- coolspot 5y agoStatistically, most people are living in India, Pakistan and China. Which of those has the best tap water?
- namlem 5y agoIf you live somewhere that uses reservoir water rather than groundwater maybe. Groundwater tastes like shit.
- gsk22 5y agoDepends where you live and how good your local water treatment plant is.
- falcolas 5y agoErr, I say exactly the opposite myself. I hate treated water from a public water system. All those chemicals (and whatever comes off the piping) are far from tasty.
- hondadriver 5y agoDepends on where you live. In the Netherlands, I don't think you can taste the difference or people even prefer tap water, because it tastes more neutral then some mineral waters. Sourcy and Bar-Le-Duc are even bottled from the same source as Utrecht gets its tap water from. Main difference with US is no chlorine is added. See also: https://www.vewin.nl/english/News/Paginas/Dutch_drinking_water_is_of_top_quality_as_shown_by_international_research_20.aspx https://www.vewin.nl/english/News/Paginas/Dutch_drinking_wat...
- prostoalex 5y agoIn the US it's highly dependent on where you live https://i.redd.it/iijl9wrr6h571.png https://i.redd.it/iijl9wrr6h571.png
- slacktide 5y agoThat depends entirely on your groundwater. In Florida, absolutely, it tastes like shit. When I lived in New York, it was great. Reservoir water, of course, is full of literal shit. Fish shit, birdshit, human waste runoff, etc, which all must be removed by a treatment system prior to use.
- meepmorp 5y ago
- lepton 5y agoThe point was that all those brands are owned by Coca-Cola, after all.
- deleted 5y ago[deleted]
- century19 5y agoWas not clear to me.
- hirundo 5y agoIt was the contents of the bottle that Ronaldo objected to, not the label.
- jollybean 5y agoI don't think so. Even if that were true, he knows is power and influence and how it works with sponsorship etc.. So he would have known it would have been interpreted one way and not the other. Definitely moving a bottle of something aside he's not being paid for is rational in his part. If he 'said the names' of the water companies he was not sponsored by, that would be odd as he knows not to do that, but if he just said 'water' then that would be normal.
- runawaybottle 5y agoAnd I’m sure a company that found a way to still sell to the Nazis won’t adapt by having this guy sponsor their new water brand for soccer-focused countries. Side note: If you really think about the power Coke will amass in China, it feels staggering. Imagine having a quarter billion people (being conservative here) pay $1 for a can of soda. That’s $250m on a Monday. Do it again Tuesday, maybe have them buy two. It’s crazy money.
- cwp 5y agoIf they did, it would be a massive improvement to public health, wouldn't it?
- Scoundreller 5y agoI bet Coca Cola and Pepsi deeply fear tobacco style lawsuits. If you think tobacco-caused disease is expensive to treat, wait until you see diabetes and obesity. They’ve reduced the sugar of the Canadian version of coke (used to have more than US formulation). Bottles are all getting smaller (591 to 500) and smaller options than 355mL. And the obvious push toward low/no-sugar options.
- ASalazarMX 5y ago> And the obvious push toward low/no-sugar options. It's borderline evil to formulate even sweeter versions, but with zero calorie sweeteners: people drink them freely because they don't have calories, but the sweetness could be causing insulin resistance, which can turn into diabetes. Pushing for low sugar and moderation is better than no sugar and no moderation.
- abduhl 5y agoSeems like a lot of people replying are missing your joke here. Just to be explicit: Coca-Cola owns all of these brands.
- desktopninja 5y agoI'll add to that and say Coca Cola branded water costs more that the soda lol. Business!
- meepmorp 5y agoHe held up a bottle of water and said "agua". Why assume it's a rejection of the Coca-Cola corporation vs soda as a choice of beverages?
- jollybean 5y agoIt's a rejection of an entity that is not sponsoring him. These are 'businessmen athletes' who are intimately familiar with issues around sponsorship.
- robotron 5y agoHe's also a health nut. Someone that cares enough about their health to do something about it probably wouldn't drink carbonated sugar water.
- jollybean 5y agoI think that's fair. But he still knows what he is doing. If he were sponsored by a Coke 'sub brand' (i.e. water or healthy drink) ... he would have done it more gracefully for sure.
- aeortiz 5y agoCoca-cola has started buying all the bottled water brands in Mexico to stave off any people who won't drink soda. Tap water is dangerous to drink in most of Latin America.
- missedthecue 5y agoAlternative headline: Coca Cola stock dips 1.6%
- ceres 5y agoYeah I find it hard to believe that an incident that people will forget two seconds after it happens costs billions of dollars.
- odshoifsdhfs 5y agoWhile I don't know if the drop is related to this incident or not, the video was wildly spread through social networks (at least in Europe) and even becoming a meme now. Even some news commented on it (local). Still no idea if it really affected the stock price, but it is 2 days now and people are still talking about it in these necks of the woods.
- Zealotux 5y agoDid that really "cost" billions of dollars though? Isn't that just billions of _valuation_ that will not take long to recover?
- darkwater 5y agoThat percentage is worth 4 billions of dollars, due to Coca Cola size so... it's accurate. Percentages might be misleading sometimes.
- ozim 5y agoDrop was something like $1 per share which from ~$56 to ~$55. Where 3 months ago Coca Cola was trading around $50, year ago Coca Cola was trading for ~$45 per share. That was totally meaningless event, it did not drop in a way I would start buying. There is no real consequences for Coca Cola, maybe some day traders lost money selling for $56 before that event.
- quickthrowman 5y ago
- deleted 5y ago[deleted]
- decremental 5y agoIt's refreshing to see someone with a big microphone use their fame to promote something positive.
- 2OEH8eoCRo0 5y agoCold Coke on a hot day is positive. Coke 3x a day every day is negative.
- tsdlts 5y agoThere's 44g of sugar in a can of coke. The recommended daily amount of sugar is 24g. Although I take issue that there would be any amount of sugar that should be recommended since it's entirely unnecessary to consume.
- raptorraver 5y agoI wouldn't say sugar is unnecessary for us: “The brain is dependent on sugar as its main fuel” https://hms.harvard.edu/news-events/publications-archive/brain/sugar-brain https://hms.harvard.edu/news-events/publications-archive/bra...
- tsdlts 5y agoThe body needs sugar, but you don't need to consume sugar to get it. You produce your own glucose.
- Applejinx 5y agoParticularly since in soft drinks it is typically balanced out with salt to intensify craving and the amount you can drink without feeling like you're taking in too much sugar. Soft drinks have quite a bit of salt in there too, even if you're not washing down Doritos.
- deleted 5y ago[deleted]
- nikolay 5y agoI wonder when we'll finally realize how stupid we're and stop drinking liquid sugars including fruit juices, which often are worse than coke!
- papreclip 5y agoTo be fair, I haven't met anyone who drinks as much juice as soda drinkers drink soda
- chrisseaton 5y agoHuh yeah... you can see unhealthy people put away a 2 litre bottle of something like Coca-Cola without thinking twice, but that would seem like an obscene quantity of orange juice or something to almost anyone I think.
- InitialLastName 5y agoWhen I was a deeply unhealthy teenager (about the same time I was regularly going through a 30-pack of Coke in a week) I would frequently also drink a gallon jug of orange juice in a day. I still (decades later) have to keep an eye on myself around that stuff; all the variants of sugar-water are reserved for special occasions these days.
- bingidingi 5y agoTurns out people will drink more of something if you make it a little addictive. Hell, the drug of choice has changed but it's even baked into the name.
- handrous 5y agoYeah, a 32-oz juice isn't a fairly common "medium" size, and you don't usually get a juice (with free refills!) included in a combo meal
- catblast01 5y agoHeh, come to my primary care clinic, I’ll introduce you.
- xpuente 5y agoPerhaps the cause was that the ex-date of the latest dividend was 06/14/2021 [1] [1] https://ycharts.com/companies/KO/dividend https://ycharts.com/companies/KO/dividend
- cecilpl2 5y agoExplanation: In order to be eligible for the dividend of $0.42/share, you had to be holding the stock on Friday at close. You would therefore normally expect the share price to drop $0.42 between Friday close and Monday open. Looks like that accounts for about half of the "drop", which means KO lost less than 1% over the weekend. Hardly worth a news article.
- quickthrowman 5y agoThat would acccount for about half of the drop between Friday close and Monday open, nice catch! Journalist narratives behind stock price action are almost always wrong or misleading.
- pc86 5y ago"behind stock price action" seems irrelevant to that sentence :)
- etangent 5y agowouldn't this be something already arbed out? Dividend dates are known -- one can make a quick buck shorting if one knows for sure the price will change.
- deleted 5y ago[deleted]
- Scoundreller 5y agoSort of. There’s taxation différences that vary based on where the account holder is based, so the drop won’t exactly equal the dividend amount, even if it was paid immediately.
- 5y ago
- t0mbstone 5y agoEveryone talks about how awesome Warren Buffet is, but nobody talks about how the vast majority of his fortune was acquired from owning Coca-Cola, selling sugar water to the masses, fueling the diabetes and obesity epidemic.
- bitwize 5y ago"Do you want to sell sugar water or change the world?" Still not clear where the smart money was.
- bingidingi 5y agoSugar water has probably done more to change the world tbh.
- etangent 5y ago"or change the world" "change the world for the better, right? right?"
- hourislate 5y agoOr that he took Gov handouts/bailouts and always says he wants to pay more taxes but never does. I guess you can't get to where he is being honest. A recent example was the fuckery he tried to pull with Texas and building new Generation Plants. Man is a shit bag...
- klaudius 5y agoBuffett famously stated, "I'll tell you why I like the cigarette business. It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty." source: https://www.investopedia.com/articles/stocks/08/buffett-best-buys.asp https://www.investopedia.com/articles/stocks/08/buffett-best...
- pydry 5y agoAlso: >"Basically, when you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you. >I know people who have a lot of money, and they get testimonial dinners and they get hospital wings named after them. But the truth is that nobody in the world loves them. If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster. >That's the ultimate test of how you have lived your life.
- overtonwhy 5y agoYeah but look how much free marketing publicity they're getting/making from a temporary blip in stock price...
- glare123 5y agoDid Coca Cola also suffer from their critical race theory courses (be less white)? https://www.newsweek.com/coca-cola-facing-backlash-says-less-white-learning-plan-was-about-workplace-inclusion-1570875 https://www.newsweek.com/coca-cola-facing-backlash-says-less...
- saos 5y agoNothing compared to what Elon is doing to a Bitcoin price with each of his tweets
- haunter 5y agoBut Pogba did the same with Heineken [1] (most likely because he is muslim) yet Heineken's stock price is rising? [2] So either Ronaldo has more influence than Pogba or the whole thing (Coke's stock) has nothing to do with Ronaldo. 1, https://twitter.com/goal/status/1405076977514582018 https://twitter.com/goal/status/1405076977514582018 2, https://www.google.com/finance/quote/HEIA:AMS https://www.google.com/finance/quote/HEIA:AMS
- parthdesai 5y agoMost likely 2, but you can't put Pogba in the same sentence as Ronaldo when it comes to influence lol
- smnrchrds 5y agoAs someone who doesn't follow soccer or soccer news, I had to Google Pogba, but I already knew who Ronaldo was.
- caeril 5y agoJust a fun little aside - Heineken introduced Heineken 0.0 a few years back, and as non-alcoholic beers go, it's the only one that doesn't taste "off". Even Athletic Brewing Company, as nice as it is to have non-alcoholic stouts and IPAs, hasn't nailed what Heineken has. (Incidentally, it was a 0.0 that Pogba removed from the table, so perhaps it wasn't the alcohol that bothered him)
- datameta 5y agoI normally don't have strong brand opinions but I have to say Athletic Brewing make the best non-alc hazy ipa and lager I've ever had. Before them I'd only have non-alc beer at events where people drink, now I'll have a few at home weekly.
- randompwd 5y ago> Alcohol-free beer does contain a small amount of alcohol (up to 0.05% ABV). This is because some alcohol naturally forms as part of the brewing process. https://www.drinkaware.co.uk/facts/alcoholic-drinks-and-units/difference-between-alcoholic-and-non-alcoholic-beers https://www.drinkaware.co.uk/facts/alcoholic-drinks-and-unit...
- asdfman123 5y agoImagine how much better society would be if there was incentive to spend billions to improve everyone's health.
- alexashka 5y agoBetter for whom? Psychologically healthy people aren't going to work factory jobs for 30 years to pay off a single house. You'd have to be demented and most people today are.
- mongol 5y agoI wonder how an arbitrary event like this is fed into trading systems that are highly automated. Somewhere there must be a human that says "oh that is bad". Then what? How do they judge how bad it is? And how does that become input into algorithms?
- hatsunearu 5y agoa movement of 1.6% is what happens on a weekly basis though...
- jsiepkes 5y agoCoca-Cola, it's got what plants crave! [1] https://youtu.be/ZMHfBobgLSI?t=70 https://youtu.be/ZMHfBobgLSI?t=70
- bsd44 5y agoNobody is going to drink less Coca-Cola because Cristiano Ronaldo doesn't drink it. So how can something like this move the stock price? Do stockholders watch TV and then run to their brokers shouting "sell sell sell"? I don't understand this, it seems completely meaningless. I can see the stock drop should Coca-Cola publish a document "how to be less white in workplace" for example, but someone moving a bottle away from cameras... I don't get it. Can someone who works in the financial industry explain this?