The Coca-Cola Company falls after Cristiano Ronaldo snub and Roblox Corporation shares fall on report of declining users
The Coca-Cola Company
On Wednesday, shares of The Coca-Cola Company fell, closing down 1.34%.
Shares of the American multinational beverage company fell after professional soccer player Cristiano Ronaldo withdrew two bottles of the fizzy drink from in front of him and advised everyone to drink water instead.
At Monday’s Euro 2020 news conference, the Portugal captain removed the coke bottles when he sat down to speak to the media ahead of Tuesday’s match against Hungary. He then held out a bottle of water and said, “Agua!” in Portuguese.
After Ronaldo’s comments, The Coca-Cola Company lost $4 billion in market value as its shares quickly plunged 1.6%.
Shares of The Coca-Cola Company are up over 6% in the past three months.
On Wednesday, shares of Roblox Corporation plunged, closing down 8.03%.
Shares of the American video game developer tanked after the company reported a decline in its user base. The number of daily active users on the video gaming platform fell in May compared to April, indicating that growth may be stalling.
Roblox reported 43 million daily active users (DAU) in May, down 1% from April. However, since May 2020, the number of users has grown by 28%. The company’s revenue in May is expected to increase by 126%, reaching $151 million.
Shares of Roblox Corporation are up nearly 8% in the past three months.
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