Depending on the fabric, I see more or less stretch at the rip. I ripped a batik a few nights ago as I didn't want to work with the full four yards in my stash. There was very little stretch and distortion along the edges. Some of the lesser cottons in my stash have not looked good after ripping.
I often rip in order to get a true grain when I'm squaring fabric before cutting.
Cheers, K