Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Renewable Energy Group Inc. (NASDAQ:REGI) dropped 10.5% today after the company announced an acquisition.

So what: The company is buying LS9, a developer of renewable chemical technology, for $61.5 million. The deal will pay $15.3 million in cash, 2.2 million shares of Renewable Energy Group stock, and the potential for another $21.5 million in cash and/or shares if certain milestones are achieved.

Now what: There's a lot of uncertainty in acquiring a company with little-known impact on earnings, especially in the new markets LS9 is targeting like detergent and personal care. It's possible that this ends up being a brilliant acquisition if the technology can be turned into profitable products, but we're probably years from that. I don't think this fundamentally changes the investment thesis for Renewable Energy Group and actually gives new upside, which is great for investors wanting to buy at today's discounted price.