HN39,
You could turn speed into height - at about that rate,
Delta-h proportional to Delta-v-squared.
Lop off the front, but keep the wings intact on the rest, the angle of attack would rise sharply, boosting both lift and drag, and pointing whatever thrust was left upwards, so slowing and climbing until a stall makes sense. I can see 2000 feet gained being reasonable.
That's probably not what the witnesses would have seen as the "streak" though, that's all about how a short fiery track on the sky that ends in a bigger fire appears. Unless you're directly abeam of the track, a horizontal track would still appear to rise or fall above the horizon.