Finding companies that promise exponential growth isn't too hard. Lots of businesses claim to be the next "big thing". But separating the wheat from the chaff is another story. It can be a lot more challenging to identify companies that offer strong growth and are not wildly speculative.

One way investors can do this is by following the stock picks of Cathie Wood, whose ARK Invest funds are jam-packed with compelling growth stocks. Let's take a look at why two of our Motley Fool contributors are particularly interested in two of these names: Magna International (NYSE: MGA) and Rocket Lab (NASDAQ: RKLB).

Lee Samaha (Magna International): It's difficult to find value stocks in an ARK ETF, but automotive supplier Magna International might fit the bill. The stock trades at less than 12.6 times its estimated full-year 2023 earnings. Moreover, if Magna can get anywhere near Wall Street estimates of $6.41 in 2024, then the stock will look like a great value at less than 10 times earnings.

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Source Fool.com