TravelZoo (TZOO) is interesting at current prices ($10.75). With the company’s divestiture of its money-losing Asian operations late last year, and the strong growth in subscribers in the remaining US and Europe operations, the company’s bottom-line could see a surge in 2010. The improving year-over-year comparisons, coupled with the low float on the stock, should benefit current shareholders. On the risk side, the company has no debt, a highly defensible business model (I view high traffic websites, with long histories, and a large email list, as some of the most defensible businesses around, despite some people’s belief that these businesses are easily replicated – they are not), and though the stock price has rebounded sharply from the financial crisis, as many other stocks, the price has still basically gone nowhere for years.

Disclosure: Affiliates of Envoy Global Research, and its principals, own shares in TZOO. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.