PALO ALTO, Calif. (TheStreet) -- An investment in electric car maker Tesla is fraught with risks, according to the company's prospectus, which lists more than six dozen of them.
Some of the risks Tesla admitted include "very limited experience servicing our vehicles;" the sad truth that the range of those vehicles has shown a propensity to decrease with usage; a distribution network that includes just 12 stores in the U.S. and Europe, even though states including Texas and Kansas require manufacturers to deliver cars through dealerships; and the potential that customers may be in short supply and the company's track record of losses throughout its existence.
It is safe to say that investors have rarely been so systematically warned by a stock-selling company to stay away.
And yet, this is an investment based on hope -- not just for the future of a single manufacturer, but also for Wall Street to buy into a symbol of an approaching end to the world's dependence on oil, which seems to account for a particularly large share of humanity's ills.
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