ex-rights

Ex-Rights

Shares of stock that are trading but no longer have rights attached because they have either expired, been transferred to another investor or been exercised. The rights originally assigned to the stockholder are, for whatever reason, no longer valid or no longer applicable to the stock.

Investopedia Commentary

Ex-rights shares are worth less than shares which are not yet ex-rights - the ex-rights shares do not give a shareholder access to a rights offering. Renounceable rights may trade separately, allowing shareholders to choose to sell their rights rather than exercise them.

Related Links

Understanding Rights Issues
Stock Basics Tutorial
What Owning A Stock Actually Means

See also: Ex-Date, Ex-Dividend, Ex-Warrant, Holder Of Record, Non-Renounceable Right, Record Date, Renounceable Right, Rights, Rights Offering

ex-rights

Used to describe a stock that trades without giving the stockholder the privilege to receive rights to buy shares of a new stock issue. Because new shares are sold at below market price to rights holders, the rights have value. Thus, a stock trading ex-rights is worth less than the same stock with rights attached. A stock trading ex-rights is indicated in stock transaction tables in newspapers by the symbol x near the volume column. Compare rights on. Also called rights off. See also rights offering.