Skyrocket (verb)

1. Rise rapidly and steeply.
2. To increase rapidly and steeply in value or price.

Origin:

Early 19th century: from sky + rocket.

Examples:

1. The stock prices skyrocketed after the announcement.
2. The price of the stock skyrocketed.
3. The cost of living skyrocketed.
4. The company's profits skyrocketed after the new product launch.
5. The population of the city skyrocketed in recent years.