* Gerund: When it acts as a noun, like "Stretching is good for you." Here, "stretching" is the subject of the sentence.
* Present participle: When it modifies a noun, like "The stretching cat yawned." Here, "stretching" describes the cat.
* Verb: In its base form, it's a verb, like "I am stretching."
So, the specific part of speech depends on the context of the sentence!