Definitely stem rot! I don't prune branches just before my rain season. I still get stem rot during the rain season (I grow my plants outdoors), but I leave them alone. During the rain season, the plant will create abscission zones within that stops further rot down the stem. The rotted stems eventually comes off and the result is healthy numerous branches at the apical meristem.
Edited to say: This is how I treat my adeniums in my AHS zone.
@RCanada Rick's instructions on checking roots for rot and pruning branches is spot on.
Where are my manners! Welcome to NGA
@Tedbow00!