sky·rock·et 
(skīrŏk′ĭt)
(skīrŏk′ĭt)n.
A firework that ascends high into the air where it explodes in a brilliant cascade of flares and starlike sparks.
intr. & tr.v. sky·rock·et·ed, sky·rock·et·ing, sky·rock·ets
To rise or cause to rise rapidly and suddenly: Wheat prices skyrocketed. Discovery of oil here has skyrocketed land values.