That percentage is worth 4 billions of dollars, due to Coca Cola size so... it's accurate. Percentages might be misleading sometimes.
Where 3 months ago Coca Cola was trading around $50, year ago Coca Cola was trading for ~$45 per share.
That was totally meaningless event, it did not drop in a way I would start buying. There is no real consequences for Coca Cola, maybe some day traders lost money selling for $56 before that event.