Perhaps the cause was that the ex-date of the latest dividend was 06/14/2021 [1]<p>[1] <a href="https://ycharts.com/companies/KO/dividend" rel="nofollow">https://ycharts.com/companies/KO/dividend</a>
And with that, billions of people vote with their dollars and express their dislike of drinking Coca-Cola (and show Coke who is boss) instead by drinking Dasani, Smartwater, Topo Chico, and Aha.
Everyone talks about how awesome Warren Buffet is, but nobody talks about how the vast majority of his fortune was acquired from owning Coca-Cola, selling sugar water to the masses, fueling the diabetes and obesity epidemic.
I wonder when we'll finally realize how stupid we're and stop drinking liquid sugars including fruit juices, which often are worse than coke!
But Pogba did the same with Heineken [1] (most likely because he is muslim) yet Heineken's stock price is rising? [2] So either Ronaldo has more influence than Pogba or the whole thing (Coke's stock) has nothing to do with Ronaldo.<p>1, <a href="https://twitter.com/goal/status/1405076977514582018" rel="nofollow">https://twitter.com/goal/status/1405076977514582018</a><p>2, <a href="https://www.google.com/finance/quote/HEIA:AMS" rel="nofollow">https://www.google.com/finance/quote/HEIA:AMS</a>
I wonder how an arbitrary event like this is fed into trading systems that are highly automated. Somewhere there must be a human that says "oh that is bad". Then what? How do they judge how bad it is? And how does that become input into algorithms?
Nobody is going to drink less Coca-Cola because Cristiano Ronaldo doesn't drink it. So how can something like this move the stock price? Do stockholders watch TV and then run to their brokers shouting "sell sell sell"? I don't understand this, it seems completely meaningless. I can see the stock drop should Coca-Cola publish a document "how to be less white in workplace" for example, but someone moving a bottle away from cameras... I don't get it. Can someone who works in the financial industry explain this?