What could be called the software industry’s annual version of Woodstock kicks off tomorrow when salesforce.com (CRM) begins its annual Dreamforce event. The event is held each year at some point between September and December and is widely considered the largest tech industry conference in the world. While Dreamforce tends to shine as favorable a light as possible on salesforce.com, the conference hasn’t always been a good time for the company’s stock price.
The chart below shows the performance of CRM’s stock from the closing price the day before the event kicks off through the close on the conference’s last day. Over the last 15 years, shares of CRM have seen an average decline of 0.75% (median: -1.45%) during the four-day conference with positive returns just under half of the time. While the overall average returns haven’t been particularly good, we would note that things have started to get better for the stock during this conference with gains in each of the last four years. Even here, though, three of those four years saw gains of less than 1%. Sign up for Bespoke’s “2020” special and get our upcoming Bespoke Report 2020 Market Outlook and Investor Toolkit.