'Stretching' (actually, enlarging of the rivet holes, and/or wearing of the rivets) is mostly noted on longer chain loops. It happens on smaller loops as well, but the small amounts of wear 'add up' to a lot more on a 120DL chain, than on a 40DL loop.
The 'stretched' links will also hit your drive sprocket slightly off, leading to increased wear. That is why they recommend replacing the sprocket and chains at the same time, instead of running a new sprocket with old chains, or vice versa.
That said: if you don't mind wearing out your $5 rim sprocket a bit faster to get more life out of a $20 to $30 chain, 'standard practice' is to take a link or 2 out of the chain, and run it until your get all of the life out of the cutters.
Philbert