Palo Alto, Calif. – One day after announcing former eBay head Meg Whitman as its new CEO, Palo Alto-based Hewlett-Packard (HP) on Friday saw its shares on the New York Stock Exchange sink to their lowest point since May 2005.

The company’s stock dipped as low as $21.50 Friday morning before recovering to close at $22.30 — less than half of what it was trading for in February.

Whitman, who replaced Leo Apotheker at the helm, told employees Friday morning that the company would work to earn back their trust and respect.

This article was also published in Bay Area Tech Wire.

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