skyrocket
1. [ noun ] propels bright light high in the sky, or used to propel a lifesaving line or harpoon
Synonyms: rocket
Related terms: visual_signal rocket
2. [ verb ] shoot up abruptly, like a rocket
Synonyms: rocket
Examples:

"prices skyrocketed"

Related terms: rise
3. [ noun ] sends a firework display high into the sky
Synonyms: rocket
Related terms: firework firework rocket
Similar spelling:   skreak