The recent announcement by General Motors (NYSE:GM) that its goal is to achieve 100% zero-emission vehicle production by 2035 has taken the market by storm of late. Of course, this announcement has also led to a significant revaluation of the company’s valuation as investors seek out cheaper EV options on the market right now.

Indeed, with the stock prices of other EV makers such as Tesla, Inc. (NASDAQ:TSLA) trading at absolutely astronomical levels, this increase in GM’s share price shouldn’t come as a surprise. The auto maker was trading at what I think were artificially low levels for quite some time.

That said, I think investors need to think about what such a massive shift in production capacity will mean for GM. The company, in many ways, is behind on the technology aspect of the EV revolution.

Thus, I have a very bullish thesis for this stock right now that involves acquisitions on the horizon. I think GM could be in the market to acquire companies on the technology side of the business that can help accelerate its shift toward not only fully electric vehicles, but those with some level of autonomous driving capabilities. I think if such an acquisition were announced, this is a stock that could pop materially higher.

Of course, the degree to which investors are already betting on this and pricing this into GM’s stock remains to be seen. This is a stock with a ton of momentum, but as we’ve seen with this cyclical industry, valuations can change rapidly.

Invest wisely, my friends.