(Updated - July 13, 2016 12:52 PM EDT)

Citron's Andrew Left said to take a new short stake in Valeant Pharma (NYSE: VRX).

UPDATE - According to RealMoney, Left is calling Valeant a zero.

Commenting on earlier reports that Sequoia Fund exited their entire position, he said: They've sat down and they've seen and they've interviewed and they walked... The fact there they're selling tells everything, Left said. It's already a sinking ship ... With the Titanic going down you can at least get on a life boat and get out with what you can.

Shares of Valeant are up just 0.3 percent Wednesday.

Short Sales Trader Talk

Valeant (VRX) Investors Should Be Focused on Earnings Not Upcoming Product Catalysts - Wells FargoJuly 14, 2016 1:29 PM Citron Research calling Valeant Pharma (VRX) a zeroJuly 13, 2016 12:48 PM Have Valeant Pharma (VRX) Shareholders Finally Capitulated?July 13, 2016 12:24 PM Valeant Pharma (VRX) Pearson Said to Have Sold 5M Shares - CNBCJuly 13, 2016 11:28 AM Citron's Left to go short on Valeant again: TheStreetJuly 13, 2016 9:20 AM RBC Highlights Next Week's Key Events for Valeant Pharma (VRX)July 13, 2016 8:19 AM Long-Time Valeant Pharma (VRX) Holder Sequoia Fund Exits PositionJuly 13, 2016 6:09 AM Valeant Pharma (VRX) volatility at lower end of eight month range, Sequoia Fund exited positionJuly 13, 2016 6:05 AM