Updated from Sept. 8
A big problem with an overvalued stock like Travelzoo(TZOO Quote) is the threat that someone will come along and build a better mousetrap.
Not that business fundamentals have mattered much in the Travelzoo story, but online giant Yahoo!(YHOO Quote) is beginning to test-market a search service that could pose a challenge to the online travel space. Yahoo! introduced its FareChase search engine Tuesday evening, although the system is still a work in progress.
Yahoo's Farechase allows a person to simultaneously search 150 travel Web sites for the best airfares, hotel rates, and car rental rates. Youssef H. Squali, a Jefferies & Co. analyst, in a research note, calls the new Yahoo service a "direct assault on pure-play travel sites." ...
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