Yes You would cut the stalk back also, Cut it right between the joints below where the shoot was removed and seal the top with wax (i would recommend scentless). The shoots will root in about 1-2 months. The stalk will generate a new shoot at the joint below the cut, in some cases you may get two shoots that will generate. You can find alot of information from the person named "Lucky Bamboo Expert" on youtube also.

The only thing I havent been able to find anywhere, is how fast will the bamboo shoot grow? My shoots got very large before I propagated them. They were already at least a foot tall plus from cut to leaves. I assume once it gets bigger then I would need to cut it and seal it to make it generate new stalks? I have successfully gotten all three of my stalks to root, now how long and what do I do to continue the process?