Stars who influenced the stock market

Cristiano Ronaldo causes US$4 billion loss for Coca-Cola with single gesture

Stars Insider

16/06/21 | StarsInsider

CELEBRITY Economy

Our economy is a delicate system. It is based on how corporations supply, how consumers demand, and all the things that influence these two factors. An ever-increasing component of importance has been the role that famous people play in influencing consumer demand. When a celebrity sponsors a product, it instantly makes us want it a little bit more. With the omnipotence of social media, it is now possible to follow not just what celebs buy, but what they invest in and what their thoughts are.

Cristiano Ronaldo made his thoughts clear in a very simple gesture that reportedly caused Coca-Cola's worth to drop from US$242 billion to $238 billion, a 1.6% drop, according to Give Me Sport. What could the Portuguese soccer star have done to cost the company US$4 billion? Speaking ahead of Portugal’s Euro 2020 match against Hungary, Ronaldo spotted two bottles of the famed soda on the press table and immediately moved them away. He then picked up a bottle of water and said, "Agua!" That's it! Ronaldo is known to dislike sugary soft drinks and all it took was him reasserting that opinion for a huge impact on the stock market.

If a celebrity has a large online following, their opinion has the ability to shift millions of other people's opinions on the same product. Consequently, they may choose to buy or sell it. In the past 10 years, celebrities have been making the stock market fluctuate as it has never done before. From Kendall Jenner's Pepsi scandal to Donald Trump's general misbehavior, click through to learn more.

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