An own goal from Matthias Doumbe saw Wolves earn a point at Plymouth as both sides stuttered to an unconvincing draw at Home Park.
Veteran striker Barry Hayles had given Plymouth the lead on his debut when he scored with a right-foot shot.
But, just 90 seconds into the second half, a shot from Kevin O'Connor was deflected by Doumbe into his own net.
Wolves keeper Matt Murray saved from David Norris late on to keep matters level in an uninspiring encounter.
Plymouth boss Ian Holloway:
"I was very proud of the lads - I haven't been here long and I was very pleased.
"It was a very emotional day for me, because of the reception I got. The
crowd here are absolutely marvellous.
"If you look at the stats, we had more chances than them but didn't convert them - on another day we might have."
Wolves boss Mick McCarthy:
"You would expect some gloom, doom and apathy about the club after losing 12 players.
"But I think some of it has been lifted by my appointment, hopefully, and
a bit more by this performance.
"I've only been 12 days in the job and I was pleased with how we battled. Not many sides will come away from Plymouth with a point."
Plymouth: McCormick, Connolly, Doumbe, Aljofree, Hodges, Wotton, Norris, Nalis (Djordjic 73), Capaldi, Chadwick (Ebanks-Blake 61), Hayles.
Subs Not Used: Barness, Reid, Summerfield.
Booked: Chadwick, Norris, Nalis, Connolly.
Goals: Hayles 35.
Wolverhampton: Murray, Clyde, Breen (Edwards 45), Craddock, Naylor, Ricketts (Gobern 82), Henry, O'Connor, Clapham, Cort, Bothroyd (Craig Davies 65).
Subs Not Used: Oakes, Frankowski.
Booked: Clapham, Henry, Edwards.
Goals: Doumbe 47 og.
Ref: I Williamson (Berkshire).