Stocks in industries that are best positioned to benefit from the economic reopening have soared recently, and for good reason. Ever since positive vaccine data showed a light at the end of the tunnel of the pandemic, stocks of retailers, hotels, airlines, and other companies that depend on people getting out and doing things have been some of the market's best performers. In this Fool Live video clip, recorded on June 14, Fool.com contributors Matt Frankel, CFP, and Toby Bordelon discuss whether there could be more upside ahead or if all the good news is already priced in.

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Toby Bordelon: "Do you think reopening stocks are already priced in for summer growth?" There is an argument to be made they are I think. I think that's something you definitely have to look at. I think one thing we tried to do with these nine companies we presented, it's to think a little bit beyond just the immediate summer, too. I don't want to necessarily speak for you guys, but I think for me, when I was thinking of this, I was looking at the summer as potential short-term catalysts. But I wanted the company I wanted to be able to see that it could continue to perform into the fall, into next year, into the year after. You don't want to be looking at a company where you think it's going to be great this summer and then it's going to fall off a cliff. You want one that maybe will get jump-started, one that's been struggling the past year. But you see some opportunity for continued growth beyond just the short-term travel surge, for instance. I think that's what you want to think about when you're looking at investing in some of these companies. You got to see beyond the next three to six months before you want to commit your capital to it.

Matt Frankel: One thing I would point out with that is that over the last eight or nine months or so, every aspect essentially of the reopening has surprised to the positive. From Pfizer's (PFE -0.34%) vaccine data in November, which was better than anyone thought it was going to be, to the actual pace of the vaccine rollout, to the actual collapse of the case numbers this year, to the actual loosening of restrictions. No one thought New York City will be fully reopened this summer, if you asked them six months ago. The reopening has really progressed and surprised to the upside. That could easily continue to happen. Just from going out and seeing like when I was in Orlando about a month ago. The demand, the actual crowds, and things like that, I think it could continue to surprise to the upside. Yes, what we know right now might be priced in, but the market's been wrong over the past nine months about how quickly the reopening was going to progress.