Dracaena Marginata is dying help!

my dracaena Marginata suffered from severe root rot so I chopped the roots off and some of the bottom stem and propagated it into some water. I noticed it’s not doing very well and the leaves are very droopy. The bottom stem smells a bit as well I notice it when I change the water. The stem has ridges on it and the little branches are slightly bendy. Not sure what to do.