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2006 Chrysler 300 Misfire

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I have a 2006 Chrysler 300C 5.7L HEMI. It has 225K miles on it. Recently during the latest rain storm here in LA. The car stalled on me on the freeway. After getting it towed home. It has been misfiring. It gave codes P0300, P0301, P1128. I recently took it to a shop for diagnosis and they said that cylinder 1 was loosing compression. They said that either the motor would have to be rebuilt or replaced. It seems odd that up until that day the motor was running fine with out issue or loss of power. Do you think this diagnosis is correct? Is there any other possible solutions that may help? 

Thank you in advance for any help you can provide. 

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As I recall the air intake on those is pretty low to the ground so if a significant amount of water got sucked into the engine it could have done some damage. You could take it for a second opinion but if the engine really is losing compression then it's toast.

https://www.300cforums.com/threads/engine-ingested-water.198058/

https://www.300cforumz.com/threads/engine-shut-off-after-in-water.59295/

The modern Hemi engine also has a design flaw resulting in inadequate camshaft oiling that can cause severe problems.

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