Soccer superstar Cristiano Ronaldo's decision to remove two Coca-Cola bottles from his Euro 2020 press conference table and drink water instead has wiped billions of dollars off the beverage company's value.
The company's stock price dropped from $US56.10 ($73) to $US55.22 ($71.86) almost immediately after the Portuguese superstar's perceived slight.
That's the equivalent of wiping $5.2 billion off the company's market value.
The drop stemmed from a press conference on Monday ahead of Portugal's Group F game against Hungary.
Upon taking a seat at the press conference table, Ronaldo took notice of two bottles of Coca-Cola — one of the official sponsors of Euro 2020.
He then moved the bottles out of shot and replaced them with his own bottle, filled with water, declaring "agua!" — water in Portuguese.
The company's share price has not fully recovered after the 1.6 per cent dip.
In response, Coca-Cola issued a statement that said "everyone is entitled to their drink preferences", noting "different tastes and needs".
The snub came hours before Ronaldo scored two goals in the game against Hungary, with Portugal winning 3-0.
A Euros spokesperson said "players are offered water alongside Coca-Cola and Coca-Cola Zero Sugar on arrival at our press conferences".
A day after Ronaldo moved the Coca-Cola bottles, France midfielder Paul Pogba removed a bottle of Heineken beer that had been placed in front of him at another news conference.
Pogba, a practising Muslim, removed the bottle when he sat down to speak to the media after he was named man of the match in France's 1-0 Group F win over Germany.
Reuters has requested comment from Heineken, which is one of the official sponsors of Euro 2020.
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