Contrary to many recent headlines, Ronaldo´s decision to snub Coca-Cola was not responsible for a $4 billion dip in the beverage giant´s stock price. The incident reveals the importance of critical thinking for business leaders, especially now.
However, a few hours after the Euro 2020 opener, a rash of articles had appeared all over the world suggesting that Ronaldo’s distaste for unhealthy Coca-Cola products had wiped out $4 billion of the brand’s value.which had “analyzed the [Coca-Cola] data from the New York Stock Exchange.” Other outlets simply repeated the message without citations: Some commentators concluded that one man, from a relatively small country, could sink a US multinational.
Stock movements are often too complex to attribute to a single factor. Rather, they are vulnerable to “confounding events” that happen concurrently and whose relationship to each other is blurry. . This technical term is easy to understand. When you own company shares, you receive dividends on certain days. In Coca-Cola’s case, this date was announced more than a year in advance. Once Coca-Cola became ex-dividend, that dividend had already been distributed.
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