Growth Stocks are for aggressive investors. Unlike Value investors who care about the here and now, growth investors care about the future earnings of companies.
The companies that can be considered growth stocks are companies whose earnings are expected to grow faster than the average company.
A Growth stock is in expanding industries. Many will be overvalued based off of their earnings, but a growth investor is trading with the expectation that the company will grow to take care of that problem.
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Most a these companies will not pay dividends. Instead the companies prefer to reinvest their money back into the company, which can be good for the company and may even work out well for the investor.