Coca Cola Stock – Raheem Sterling scores winner for Lucozade as Ronaldo wipes millions off Coca Cola shares
Lucozade bosses have defended their sports drinks after former Manchester United player Christiano Ronaldo wiped billions off Coca Cola shares by pointedly drinking water at the Euros press conference.
Share prices plunged when the 36-year-old Juventus player moved bottles of Coca-Cola away from him and held up a bottle of water saying “Agua” in Portuguese.
As Coke shares plummeted Paul Pogba compounded the furore by removing a bottle of Heineken from the table while meeting the press after France beat Germany 1-0.
But Lucozade Sport bosses, who recently named one of their products after England hero Raheem Sterling, said their Coleford made drink is specifically designed for players.
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The company did not comment directly on the row but when asked if the footballer’s actions had any impact a spokeswoman said the UK’s biggest energy and sport drink was made to a formula devised to help athletes.
She said: “Lucozade Sport is an isotonic sports drink which has been specially formulated to provide athletes such as the men and women’s England football teams with the carbohydrates and electrolytes we lose through exercise.
“That’s why, as gyms reopen and team sports resume, we’re seeing the demand for our drinks reach record heights.
“Whether you’re a professional or amateur athlete, we encourage everyone to stay hydrated before, during and after exercise, especially in this hot weather we’re experiencing.”
Ronaldo, who is known for a strict diet and fitness regime which cuts out all sugar, made the gesture in the run up to his country’s Group F game against Hungary in Budapest.
Financial journalists say the share price dropped from $56.10 to $55.22 almost immediately after the soccer player moved the bottle and the market value of Coca-Cola went from $242bn to $238bn – a drop of $4bn.
A Euro 2020 spokesperson is reported as saying: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences. Everyone “is entitled to their drink preferences”.
But it comes soon after the Coleford-based company launched two multi million pound advertising campaigns.
In the first England hero Raheem Sterling became the first male footballer to star on the side of a Lucozade Sport bottle and get his own Cherry Kick flavour drink to to promote the “Always Believe” message.
A few days before he became a hero by scoring the winning goal for England in their opening match he appeared in a YouTube video for the company titled’ ‘Can you #PlayLikeRaheem ?’
“Teaming up with Lucozade Sport, which has such a strong heritage in English football having worked with so many iconic players, is a brilliant moment for me,” he said at the start of the campaign.
“The drinks have always supported me throughout my career so to have the Cherry Kick flavour with my face on the bottle feels surreal.”
Tom Bell, head of marketing at parent company Suntory Beverage & Food, said it had been a challenging year for sports fans who haven’t been able to get out and exercise as much as they normally would.
He said: “We want to help everyone get active as we all gear up for a blockbuster year of sport with the upcoming European football tournament, major athletics events, Anthony Joshua vs. Tyson Fury, the London Marathon and more.”
Lucozade has also launched a £10 million marketing campaign named ‘IT’S ON’ which features Lucozade Energy’s brand new transparent bottle sleeves that allow them to be recycled for the first time.
The main character in the advert throws his empty Lucozade Energy bottle into the recycling bin to highlight how the company is ahead of the game with recycling.
Coca Cola Stock - Raheem Sterling scores winner for Lucozade as Ronaldo wipes millions off Coca Cola shares
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