SpaceX Successfully Launches "Grasshopper" Reusable Rocket

Cutting costs of entering space

SpaceX, the Southern California-based space company, has reportedly successfully tested a reusable rocket that it hopes will reduce the cost of traveling to space.

The company — officially known as Space Exploration Technologies Corporation — released a video Monday showing the test flight of its Grasshopper rocket, which took off and hovered twelve stories off the ground. After launch, it hovers in the air — and lands vertically.