Unfortunately the premise of the article is incorrect. The press conference started 15 minutes after the sharp drop in the share price, meaning the two events were purely coincidental. The falls which occurred in the opening minutes of trading at the NYSE, were in large part caused by the dividend being paid that morning, plus normal, day to day stock price fluctuation. Don't worry though, half the world's news sites fell for the same story, only some of which have added a disclaimer/removed the article. I've written about it here: https://practicaldatascience.medium.com/lies-damned-lies-and-ronaldos-coca-cola-snub-c8e5df564cc7

Richard Farnworth
Richard Farnworth

Written by Richard Farnworth

Data scientist, computer programmer and all-round geek with 10 years of using data in finance, retail and legal industries. Based in Adelaide, Australia.

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