Coca-Cola slides 2.8% as Abarta Coca-Cola workers go on strike

How far did Coca-Cola shares fall?

Coca-Cola Company (NYSE: KO) shares slid 2.8% on Friday, Oct. 23, 2026. They closed at $92.70, down from a previous close of $95.34.

Why it matters: The drop cost the company about $11 billion in stock market value. That left Coca-Cola worth about $400 billion. Shares worth about $1.3 billion changed hands during the session.

By the numbers: The previous close of $95.34 was also the stock's 52-week high. After Friday's move, the shares ended 2.8% below that peak.

Why are Abarta Coca-Cola workers on strike?

Teamsters at Abarta Coca-Cola launched a strike, according to the union. The union calls it an unfair labor practice strike. That label means the union accuses the employer of breaking labor law, not only disagreeing over contract terms.

The union says the workers want a fair contract and affordable health care. The announcement does not give further detail on those demands.

The available union announcement does not say how many workers are involved or which sites are affected. It also does not say how long the walkout may last. Reports so far do not include a response from Abarta Coca-Cola or from Coca-Cola Company.

Was the strike the main reason for the drop?

Possibly not. Consumer staples stocks lost ground broadly on Friday. These are the companies that sell everyday goods such as food, drinks and household products. The consumer staples sector fund XLP slid 1.9%.

The wider market also declined. The S&P 500 fell 0.5% and the Dow Jones Industrial Average slid 1.2%.

Treasury yields moved higher at the same time. The 10-year Treasury yield rose 4 basis points to 5.00%.

Because Coca-Cola fell along with much of its sector, the strike may explain only part of the day's move. The size of any effect on the business is not yet clear from the union's statement.

What could come next for Coca-Cola?

What’s next: Coca-Cola is scheduled to report quarterly results on Oct. 27. Shareholders may look for any comment from management about the strike and its effect, if any, on operations.

The Federal Reserve announces its next interest-rate decision on Oct. 28 at 2 p.m. ET. That decision could affect stocks across the market, including consumer staples.

For a longer view, $1,000 invested in Coca-Cola stock a year ago would be worth about $1,325 now, despite Friday's drop.