Event Popover
Besides displaying events as labels, you can have them show up in a pop-over. Set it up through the calendar: {popover: true} object inside the view option. Using the popover setting saves vertical space and provides a subtle cue to the user that there are events. A small dot will appear in day cells with events or if calendar: {count: true} is set, an event count is displayed.
The same popover is rendered when events are displayed as labels and not all fit vertically in the calendar day cells.
Demo
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Try it on demo.mobiscroll.com