A stock trading with ex-rights doesn’t entitle the shareholder to receive rights to buy shares of a new stock issue. New shares are typically sold below market price to rights holders. Therefore, a stock trading ex-rights is worth less than the same stock with cum-rights. From date of declaration of stock rights to cut-off date, shares are quoted cum-rights. From cut-off date onward, they are quoted ex-rights. A stock trading with ex-rights is assigned the symbol (x) in stock trading tables.

The term “ex-rights” has the same meaning of “rights off”.