Cristiano Ronaldo’s gesture for people to drink water instead of Coke at a Euro 2020 press conference may have cost the soda company $4 billion in market value.

Coca-Cola shares dropped from $56.17  to $55.22 after Ronaldo moved two Coke bottles out of view and picked up a bottle of water before Portugal’s match against Hungary on Monday.

Market value for the company dropped from $242 billion to $238 billion – a $4 billion plunge.

“Agua!” the soccer superstar exclaimed. Agua means water in Portuguese.

Coca-Cola is one of the sponsors for the UEFA EURO 2020 tournament and a statement from the company reviewed by the Guardian said, “everyone is entitled to their drink preferences.”

A Euro 2020 spokesperson reportedly said, “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conference.”

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Billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday he’s paying close attention to this week’s Federal Reserve policy meeting in light of recent economic data showing higher consumer prices.

“If they treat these numbers — which were material events, they were very material — if they treat them with nonchalance, I think it’s just a green light to bet heavily on every inflation trade,” Jones said on “Squawk Box.”

“If they say, ‘We’re on path, things are good,’ then I would just go all in on the inflation trades. I’d probably buy commodities, buy crypto, buy gold,” added Jones, who called the stock market crash in 1987 and is founder and chief investment officer of Tudor Investment.

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Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III.

The agreement values Dave at $4 billion and is expected to close in the second half of this year. Upon completion of the deal, it intends to list on the New York Stock Exchange under ticker symbol DAVE.

The company, ranked No. 26 on last year’s CNBC Disruptor 50 list, was most recently valued at $1 billion in August 2019, according to PitchBook data.

Victory Park Capital, a global investment firm headquartered in Chicago, has a long track record of debt and equity financing transactions in fintech, and has been a longstanding investor in Dave, most recently providing a $100 million credit facility to the company in January 2021. VPCC completed its initial public offering in March 2021.

Dave — shorthand for the hero in the David vs. Goliath tale — is designed to eliminate many of the features customers can’t stand about legacy banks. The company started with overdraft fees. For a $1-per-month membership fee, users can access checking accounts with no fees and up to $100 in overdraft protection without fees or interest. Members who sign up for direct deposit also get automated budgeting and the ability to build up their credit scores through the reporting of rent and utility payments to credit bureaus.

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A joke where everyone is making fun of everyone in grand & crazy pump-and-dump schemes. But I can’t blame AMC. I blame the Fed.

AMC Entertainment Holdings – whose shares became the incredibly spiking #1 the-zoo-has-gone-nuts meme stock in recent days, multiplying by a factor of 6 in seven trading days, before plunging today – announced in an SEC filing early this morning that would try to sell 11.55 million shares to retail investors, with B. Riley Securities and Citigroup Global Markets as sales agents.

Let the cold-calling begin. AMC will pay the sales agents “up to 2.5% of gross sales” in commissions plus reimburse them for certain expenses. The share sales will be conducted whenever, in bits and pieces, via this “at-the-market” offering.

The fun thing about the updated prospectus is the explicit acknowledgement that the zoo has gone nuts, that the insane movements of AMC’s shares are prove of it, and that investors should not touch this thing with a 10-foot pole.

This is a class-act CYA, much needed during the securities lawsuits that are likely to follow. It will be able to tell stiffed plaintiffs: “We told you so.”

But it also shows that AMC is counting on these traders to not read the warning, and to not heed it if they read it. AMC is counting on these traders to instead buy those shares, with those traders relying on their Reddit crowd to bail them out of those shares later at a much higher price – the social-media-organized pump and dump.

With a palpable sense of astonishment, AMC points out the crazy share price movements that it is now going to take advantage of:

“For example, during 2021 to date, the market price of our Class A common stock has fluctuated from an intra-day low of $1.91 per share on January 5, 2021 to an intra-day high on the NYSE of $72.62 on June 2, 2021 and the last reported sale price of our Class A common stock on the NYSE on June 2, 2021, was $62.55 per share,” it says.

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