Unleashing the Power of Data

It is often said that the second most recognized phrase in the world, after "OK," is "Coca Cola." Now, imagine the impact of a single gesture from Cristiano Ronaldo, with his massive following of 550 million on various social media sites, during a press conference after Portugal's opening match at UEFA Euro 2021. Ronaldo chose to drink water instead of the Coca Cola soft drink, resulting in a 1.6% drop in Coca Cola's share value, according to Nasdaq. The Twitter images are shown in Figure 2-1. Despite the millions Coca Cola had invested in tournament sponsorship, the market capitalization dropped by over $4Bn. How could this happen?